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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) The department's bonds may be issued:
(1) in coupon form payable to bearer;
(2) in fully registered form;
(3) as coupon bonds payable to bearer but registrable as to principal alone or as to both principal and interest; or
(4) in another form, including a registered uncertificated obligation not represented by written instruments, commonly known as a book-entry obligation.
(b) The department shall provide for the registration of ownership and transfer of a book-entry obligation under a system of books and records maintained by a bank serving as trustee, paying agent, or bond registrar.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 2306.392. Denomination - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-2306-392/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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