Texas § 1502.072 TRUSTEE.

Texas Statutes

§ 1502.072 — TRUSTEE.

Texas § 1502.072

Code GVGovernment Code

This text of Texas § 1502.072 (TRUSTEE.) 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. § 1502.072 (2026).

Text

Sec. 1502.072. TRUSTEE. The proceedings adopted by the governing body of a municipality may provide for:

(1)the selection of a trustee to sell the encumbered facility on default in the payment of principal or interest under the contract;

(2)the selection of a successor trustee if the original trustee is disqualified or fails to act; and

(3)the collection by the trustee of a fee of not more than five percent of the principal.

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Sec. 1502.072. TRUSTEE. The proceedings adopted by the governing body of a municipality may provide for:
(1) the selection of a trustee to sell the encumbered facility on default in the payment of principal or interest under the contract;
(2) the selection of a successor trustee if the original trustee is disqualified or fails to act; and
(3) the collection by the trustee of a fee of not more than five percent of the principal.

Legislative History

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Renumbered from Sec. 1502.073 and amended by Acts 1999, 76th Leg., ch. 1064, Sec. 22, eff. Sept. 1, 1999.