Tex. Loc. Gov't Code § 116.059 · Subchapter C. SECURITY FOR FUNDS HELD BY DEPOSITORY
VALUATION OF REAL PROPERTY PROVIDED AS SECURITY.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
The commissioners court shall investigate all real property security and determine the value at which the property will be accepted. The commissioners court may not accept real property as security at a value greater than 50 percent of the reasonable market value of the property covered by a mortgage unless the mortgage is insured or guaranteed by the Federal Housing Administration.
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 f0b3cadcb2806e1e84f5ce1729ba38cab078c10b5bbe2e086d3ba2e2a717a711
- 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.