Section 1201.021 - Characteristics of Public Security A public security may:
(1) be issued in any denomination;(2) bear no interest or bear interest at one or more specified rates;(3) be issued with one or more interest coupons or without a coupon;(4) be issued as redeemable before maturity at one or more specified times; and(5) be payable: (A) at one or more times;(B) in installments or a specified amount or amounts;(C) at a specified place or places;(D) under specified terms; and(E) in a specified form or manner.Tex. Gov't. Code § 1201.021
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.