Sec. 303.077. PERFECTION OF SECURITY INTEREST. (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.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.