§ 1201.024 — FORM OF PUBLIC SECURITY.

Texas § 1201.024

• Jurisdiction: Texas
• Code GV: Government Code

Text

Sec. 1201.024. FORM OF PUBLIC SECURITY. (a) A public security may be:
(1) issued in a specified form or forms;
(2) issued with one or more interest coupons;
(3) registrable as to principal and interest or only as to principal; and
(4) changed in form in a specific manner.
(b) A public security issued with one or more interest coupons may have:
(1) a specified form of a coupon; and
(2) a form of a coupon that may be changed in a specified manner.
(c) An issuer may provide that a public security:
(1) has a coupon and is not registrable;
(2) has a coupon and is registrable only as to principal;
(3) is fully registrable; or
(4) initially has a coupon but may become a fully registrable security under Section 1203.041 .
(d) An issuer may provide that public securities of the same issue or series are:
(1) of one or more types described by Subsection (c); and
(2) exchangeable in whole or in part for one or more of those types.

Legislative History

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.