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Texas Local Government Code - LOC GOV'T § 303.077. Perfection of Security Interest

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 303.077. Perfection of Security Interest - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-303-077/

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