Texas § 303.077 PERFECTION OF SECURITY INTEREST.

Texas Statutes

§ 303.077 — PERFECTION OF SECURITY INTEREST.

Texas § 303.077

Code LGLocal Government Code

This text of Texas § 303.077 (PERFECTION OF SECURITY INTEREST.) 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. Local Government Code Code Ann. § 303.077 (2026).

Text

Sec. 303.077. PERFECTION OF SECURITY INTEREST.

(a)This section applies only to a security interest granted by:

(1)a corporation as security for its bonds;

(2)a credit agreement pledged as security for the obligations of the corporation on the bonds; or

(3)a credit agreement issued or entered into in connection with the bonds.

(b)Notwithstanding Section 9.109 (d), Business & Commerce Code, and without any other filing, a security interest is perfected until payment of the bonds and credit agreement, with the effect specified by Chapter 9 , Business & Commerce Code, when the bonds are registered by the comptroller and the proceedings authorizing the bonds are filed with the comptroller.

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Sec. 303.077. PERFECTION OF SECURITY INTEREST. (a) This section applies only to a security interest granted by:
(1) a corporation as security for its bonds;
(2) a credit agreement pledged as security for the obligations of the corporation on the bonds; or
(3) a credit agreement issued or entered into in connection with the bonds.
(b) Notwithstanding Section 9.109 (d), Business & Commerce Code, and without any other filing, a security interest is perfected until payment of the bonds and credit agreement, with the effect specified by Chapter 9 , Business & Commerce Code, when the bonds are registered by the comptroller and the proceedings authorizing the bonds are filed with the comptroller.