Tex. Ins. Code § 2211.212 · Subchapter E. REVENUE BOND PROGRAM
STATE PLEDGE REGARDING PUBLIC SECURITY OWNER RIGHTS AND REMEDIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The state pledges to and agrees with the owners of public securities issued in accordance with this subchapter that the state will not limit or alter the rights vested in the association to fulfill the terms of agreements made with the owners or impair the rights and remedies of the owners until the following obligations are fully discharged:
(1) the public securities;
(2) any bond premium;
(3) interest; and
(4) all costs and expenses related to an action or proceeding by or on behalf of the owners.
(b) The association may include the state's pledge and agreement under Subsection (a) in an agreement with the owners of the public securities.
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 200d3cbfa294471ef43f4aed2aabd38b6360e96fac698291437aa933a154b525
- 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
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.