Texas § 2211.208 SOURCE OF PAYMENT.

Texas Statutes

§ 2211.208 — SOURCE OF PAYMENT.

Texas § 2211.208

Code INInsurance Code

This text of Texas § 2211.208 (SOURCE OF PAYMENT.) 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. § 2211.208 (2026).

Text

Sec. 2211.208. SOURCE OF PAYMENT.

(a)Public securities issued under this subchapter are payable only from:

(1)the service fee established under Section 2211.209 ; or

(2)other amounts the association is authorized to levy, charge, and collect.

(b)The public securities are obligations solely of the association and do not create a pledge, gift, or loan of the faith, credit, or taxing authority of this state.

(c)Each public security must:

(1)include a statement that the state is not obligated to pay any amount on the security and that the faith, credit, and taxing authority of this state are not pledged, given, or loaned to those payments; and

(2)state on the security's face that the security:

(A)is payable solely from the revenue pledged for that purpose; and

(B)is not a legal or mor

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

Sec. 2211.208. SOURCE OF PAYMENT. (a) Public securities issued under this subchapter are payable only from:
(1) the service fee established under Section 2211.209 ; or
(2) other amounts the association is authorized to levy, charge, and collect.
(b) The public securities are obligations solely of the association and do not create a pledge, gift, or loan of the faith, credit, or taxing authority of this state.
(c) Each public security must:
(1) include a statement that the state is not obligated to pay any amount on the security and that the faith, credit, and taxing authority of this state are not pledged, given, or loaned to those payments; and
(2) state on the security's face that the security:
(A) is payable solely from the revenue pledged for that purpose; and
(B) is not a legal or moral obligation of the state.