Tex. Ins. Code § 2211.212

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2211.212 - State Pledge Regarding Public Security Owner Rights and Remedies

(a) The state pledges to and agrees with the owners of public securities issued in accordance with this subchapter that the state will not limit or alter the rights vested in the association to fulfill the terms of agreements made with the owners or impair the rights and remedies of the owners until the following obligations are fully discharged:

(1) the public securities;

(2) any bond premium;

(3) interest; and

(4) all costs and expenses related to an action or proceeding by or on behalf of the owners.

(b) The association may include the state's pledge and agreement under Subsection (a) in an agreement with the owners of the public securities.

Tex. Ins. Code § 2211.212

Added by Acts 2005, 79th Leg., Ch. 727, Sec. 2, eff. 4/1/2007.