CERTIFICATES AS DEBT AND SECURITY.

Tex. LOC. GOV'T Code § 271.053.
in effect
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Certificates are debts of the issuer within the meaning of Article XI, Sections 5 and 7 , of the Texas Constitution. When delivered, certificates are "security" within the meaning of Chapter 8 , Business & Commerce Code, and are general obligations of the issuer within the meaning of Subchapters A and D, Chapter 1207 , Government Code.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/29/2026

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