Tex. Government Code § 4005.056
SECURED DEBT
Texas · Texas Government Code · Status: effective
Cite this
- Citation
- Tex. Government Code § 4005.056, SECURED DEBT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/664889
- Permanent ID
ys:prov:664889@1- SHA-256
8799c8015ee41713f1d7f4ea816f94993bd4b2aaa08ee1a278364c63e7de8bc9
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
The exemption provided by Section 4005.051 applies to notes, bonds, or other evidence of indebtedness or certificates of ownership that:
(1) are equally and proportionately secured without reference of priority of one over another; and
(2) by the terms of the instrument creating the lien, continue to be secured by the deposit with a trustee of recognized responsibility approved by the commissioner of any of the securities specified in:
(A) Section 4005.017, if the deposited securities have an aggregate par value of not less than 110 percent of the par value of the securities being secured; or
(B) Section 4005.052, if the deposited securities have an aggregate par value of not less than 125 percent of the par value of the securities being secured.