Texas § 2210.6355 SOURCE OF PAYMENT; STATE DEBT NOT CREATED.

Texas Statutes

§ 2210.6355 — SOURCE OF PAYMENT; STATE DEBT NOT CREATED.

Texas § 2210.6355

Code INInsurance Code

This text of Texas § 2210.6355 (SOURCE OF PAYMENT; STATE DEBT NOT CREATED.) 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. § 2210.6355 (2026).

Text

Sec. 2210.6355. SOURCE OF PAYMENT; STATE DEBT NOT CREATED.

(a)A financing arrangement entered into under Section 2210.632 is payable solely from revenue as provided by this subchapter.

(b)A financing arrangement entered into under Section 2210.632 is not a debt of this state or any state agency or political subdivision of this state and does not constitute a pledge of the faith and credit of this state or any state agency or political subdivision of this state.

(c)Each financing arrangement entered into under Section 2210.632 must state that:

(1)except as otherwise provided by this subchapter, neither this state nor a state agency, political corporation, or political subdivision of this state is obligated to pay the principal of or interest on the financing arrangement; and

(2)neither

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 2210.6355. SOURCE OF PAYMENT; STATE DEBT NOT CREATED. (a) A financing arrangement entered into under Section 2210.632 is payable solely from revenue as provided by this subchapter.
(b) A financing arrangement entered into under Section 2210.632 is not a debt of this state or any state agency or political subdivision of this state and does not constitute a pledge of the faith and credit of this state or any state agency or political subdivision of this state.
(c) Each financing arrangement entered into under Section 2210.632 must state that:
(1) except as otherwise provided by this subchapter, neither this state nor a state agency, political corporation, or political subdivision of this state is obligated to pay the principal of or interest on the financing arrangement; and
(2) neither the faith and credit nor the taxing power of this state or a state agency, political corporation, or political subdivision of this state is pledged to the payment of the principal of or interest on the financing arrangement.