Tex. Ins. Code § 2211.208 · Subchapter E. REVENUE BOND PROGRAM
SOURCE OF PAYMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Public securities issued under this subchapter are payable only from:
(1) the service fee established under Section 2211.209; or
(2) other amounts the association is authorized to levy, charge, and collect.
(b) The public securities are obligations solely of the association and do not create a pledge, gift, or loan of the faith, credit, or taxing authority of this state.
(c) Each public security must:
(1) include a statement that the state is not obligated to pay any amount on the security and that the faith, credit, and taxing authority of this state are not pledged, given, or loaned to those payments; and
(2) state on the security's face that the security:
(A) is payable solely from the revenue pledged for that purpose; and
(B) is not a legal or moral obligation of the state.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2211.htm
- Text hash
- sha256 9140a8f839710be6435c622fa9669eca2308e15dc94af1e8346429fb9b6f2663
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.