Texas § GV.1231.041 - APPROVAL OF STATE SECURITY
Full text of Texas The Texas Constitution § GV.1231.041 — APPROVAL OF STATE SECURITY, with citation guidance and answers to common questions.
§ GV.1231.041. APPROVAL OF STATE SECURITY
APPROVAL OF STATE SECURITY. (a) Except as otherwise provided by this section, an entity, including a state agency, may not issue a state security unless: (1) the board approves the issuance; or (2) the security is exempted under law, including a board rule adopted under Section 1231.022 (2). (b) A state security issued by an institution of higher education, or issued at the request of or for the benefit of an institution of higher education, is not subject to board approval if: (1) the institution or the university system of which the institution is a component has an unenhanced long-term debt rating of at least AA- or its equivalent; and (2) the general revenue of this state is not pledged to the payment of the security. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 1049 (S.B. 5 ), Sec. 1.06, eff. June 17, 2011.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.1231.041
What does The Texas Constitution § GV.1231.041 cover?
Section GV.1231.041 ("APPROVAL OF STATE SECURITY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.1231.041?
A common citation format is "The Texas Constitution § GV.1231.041" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.1231.041 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.