Texas § 1372.043 CANCELLATION OF RESERVATION ON ISSUER'S FAILURE TO TIMELY CLOSE ON BONDS.

Texas Statutes

§ 1372.043 — CANCELLATION OF RESERVATION ON ISSUER'S FAILURE TO TIMELY CLOSE ON BONDS.

Texas § 1372.043

Code GVGovernment Code

This text of Texas § 1372.043 (CANCELLATION OF RESERVATION ON ISSUER'S FAILURE TO TIMELY CLOSE ON BONDS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1372.043 (2026).

Text

Sec. 1372.043. CANCELLATION OF RESERVATION ON ISSUER'S FAILURE TO TIMELY CLOSE ON BONDS. If an issuer does not close on the issuer's bonds as required by Section 1372.042 :

(1)the reservation for the issue is canceled; and

(2)for the period beginning on the reservation date and ending on the 150th day, the 180th day, or the 210th day after the reservation date, as applicable under Section 1372.042 , or on the 210th day after the reservation date if the issuer is an issuer of qualified mortgage bonds:

(A)no issuer may submit an application for a reservation for the same project; and

(B)the issuer is eligible for a carryforward designation for the project only as provided by Subchapter C.

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Sec. 1372.043. CANCELLATION OF RESERVATION ON ISSUER'S FAILURE TO TIMELY CLOSE ON BONDS. If an issuer does not close on the issuer's bonds as required by Section 1372.042 :
(1) the reservation for the issue is canceled; and
(2) for the period beginning on the reservation date and ending on the 150th day, the 180th day, or the 210th day after the reservation date, as applicable under Section 1372.042 , or on the 210th day after the reservation date if the issuer is an issuer of qualified mortgage bonds:
(A) no issuer may submit an application for a reservation for the same project; and
(B) the issuer is eligible for a carryforward designation for the project only as provided by Subchapter C.

Legislative History

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by: Acts 2019, 86th Leg., R.S., Ch. 992 (S.B. 1474 ), Sec. 15, eff. September 1, 2019.