Section 1205.023 - Proceeding in Rem; Class Action An action under this chapter is:
(1) a proceeding in rem; and(2) a class action binding on all persons who:(A) reside in the territory of the issuer;(B) own property located within the boundaries of the issuer;(C) are taxpayers of the issuer; or(D) have or claim a right, title, or interest in any property or money to be affected by the public security authorization or the issuance of the public securities.Tex. Gov't. Code § 1205.023
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.Amended by Acts 1999, 76th Leg., ch. 1064, Sec. 3, eff. 9/1/1999.