Tex. Loc. Gov't Code § 303.077 · Subchapter C. BONDS
PERFECTION OF SECURITY INTEREST.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies only to a security interest granted by:
(1) a corporation as security for its bonds;
(2) a credit agreement pledged as security for the obligations of the corporation on the bonds; or
(3) a credit agreement issued or entered into in connection with the bonds.
(b) Notwithstanding Section 9.109(d), Business & Commerce Code, and without any other filing, a security interest is perfected until payment of the bonds and credit agreement, with the effect specified by Chapter 9, Business & Commerce Code, when the bonds are registered by the comptroller and the proceedings authorizing the bonds are filed with the comptroller.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.104(a), eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.303.htm
- Text hash
- sha256 0d81b0f50f8fe65d96d6bb1f7fbe6b8aa9a7e7109c34e4ab616dc7cf2cbca49a
- 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.