Texas § 4005.055 COMMERCIAL PAPER.

Texas Statutes

§ 4005.055 — COMMERCIAL PAPER.

Texas § 4005.055

Code GVGovernment Code

This text of Texas § 4005.055 (COMMERCIAL PAPER.) 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. § 4005.055 (2026).

Text

Sec. 4005.055. COMMERCIAL PAPER. The exemption provided by Section 4005.051 applies to:

(1)commercial paper that:

(A)arises out of a current transaction or the proceeds of which have been or are to be used for current transactions; and

(B)evidences an obligation to pay cash not later than the ninth month after the issuance date of the commercial paper, not including days of grace;

(2)a renewal of commercial paper described by Subdivision (1) that is similarly limited; or

(3)a guarantee of commercial paper described by Subdivision (1) or of a renewal described by Subdivision (2).

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Sec. 4005.055. COMMERCIAL PAPER. The exemption provided by Section 4005.051 applies to:
(1) commercial paper that:
(A) arises out of a current transaction or the proceeds of which have been or are to be used for current transactions; and
(B) evidences an obligation to pay cash not later than the ninth month after the issuance date of the commercial paper, not including days of grace;
(2) a renewal of commercial paper described by Subdivision (1) that is similarly limited; or
(3) a guarantee of commercial paper described by Subdivision (1) or of a renewal described by Subdivision (2).