Texas § 2210.616 STATE NOT TO IMPAIR PUBLIC SECURITY OBLIGATIONS.

Texas Statutes

§ 2210.616 — STATE NOT TO IMPAIR PUBLIC SECURITY OBLIGATIONS.

Texas § 2210.616

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This text of Texas § 2210.616 (STATE NOT TO IMPAIR PUBLIC SECURITY OBLIGATIONS.) 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. Insurance Code Code Ann. § 2210.616 (2026).

Text

Text of section effective until September 01, 2027 Sec. 2210.616. STATE NOT TO IMPAIR PUBLIC SECURITY OBLIGATIONS.

(a)The state pledges for the benefit and protection of financing parties, the board, and the association that the state will not take or permit any action that would:

(1)impair the collection of premium surcharges or the deposit of those funds into the applicable trust fund;

(2)reduce, alter, or impair the premium surcharges to be imposed, collected, and remitted to financing parties until the principal, interest, and premium, and any other charges incurred and contracts to be performed in connection with the related public securities, have been paid and performed in full; or

(3)in any way impair the rights and remedies of the public security owners until the public securi

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Text of section effective until September 01, 2027
Sec. 2210.616. STATE NOT TO IMPAIR PUBLIC SECURITY OBLIGATIONS. (a) The state pledges for the benefit and protection of financing parties, the board, and the association that the state will not take or permit any action that would:
(1) impair the collection of premium surcharges or the deposit of those funds into the applicable trust fund;
(2) reduce, alter, or impair the premium surcharges to be imposed, collected, and remitted to financing parties until the principal, interest, and premium, and any other charges incurred and contracts to be performed in connection with the related public securities, have been paid and performed in full; or
(3) in any way impair the rights and remedies of the public security owners until the public securities are fully discharged.
(b) A party issuing public securities under this subchapter may include the pledge described by Subsection (a) in any documentation relating to those securities.

Legislative History

Added by Acts 2009, 81st Leg., R.S., Ch. 1408 (H.B. 4409 ), Sec. 41, eff. June 19, 2009. Amended by: Acts 2011, 82nd Leg., 1st C.S., Ch. 2 (H.B. 3 ), Sec. 53, eff. September 28, 2011. Acts 2015, 84th Leg., R.S., Ch. 615 (S.B. 900 ), Sec. 28, eff. September 1, 2015. Repealed by Acts 2025, 89th Leg., R.S., Ch. 895 (H.B. 3689 ), Sec. 1.17(2), eff. September 1, 2027.