Section 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.Tex. Loc. Gov't. Code § 303.077
Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.104(a), eff. 9/1/2001.Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. 9/1/1999.