Texas § 370.117 FURNISHING OF INDEMNIFYING BONDS OR PLEDGES OF SECURITIES.

Texas Statutes

§ 370.117 — FURNISHING OF INDEMNIFYING BONDS OR PLEDGES OF SECURITIES.

Texas § 370.117

Code TNTransportation Code

This text of Texas § 370.117 (FURNISHING OF INDEMNIFYING BONDS OR PLEDGES OF SECURITIES.) 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. Transportation Code Code Ann. § 370.117 (2026).

Text

Sec. 370.117. FURNISHING OF INDEMNIFYING BONDS OR PLEDGES OF SECURITIES.

(a)A bank or trust company incorporated under the laws of this state that acts as depository of the proceeds of bonds or of revenue may furnish indemnifying bonds or pledge securities that an authority requires.

(b)Bonds of an authority may secure the deposit of public money of this state or a political subdivision of this state to the extent of the lesser of the face value of the bonds or their market value.

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

Sec. 370.117. FURNISHING OF INDEMNIFYING BONDS OR PLEDGES OF SECURITIES. (a) A bank or trust company incorporated under the laws of this state that acts as depository of the proceeds of bonds or of revenue may furnish indemnifying bonds or pledge securities that an authority requires.
(b) Bonds of an authority may secure the deposit of public money of this state or a political subdivision of this state to the extent of the lesser of the face value of the bonds or their market value.