Tex. Loc. Gov't Code § 116.056 · Subchapter C. SECURITY FOR FUNDS HELD BY DEPOSITORY
REAL PROPERTY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) If approved by the commissioners court, improved and unencumbered real property, pledged directly by deed of trust to a trustee selected by the commissioners court, with the county judge as beneficiary, qualifies as security under this subchapter.
(b) Before approving real property offered as security, the commissioners court shall require:
(1) a written opinion by an attorney selected by the commissioners court showing that the lien is superior to any other claim to or right in the real property; and
(2) insurance approved by the county judge covering the improvements on the pledged real property and providing that a loss is payable to the county judge.
(c) An insurance policy required under Subsection (b) must be issued by a stock fire insurance company or mutual fire insurance company that has a $100,000 surplus in excess of all legal reserves and other liabilities.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.116.htm
- Text hash
- sha256 3b18af05203267d39d1f1e2de7689f1dc73a772c7b0dc454c10d181f7190b7fe
- 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.