Texas § LG.131.003 - SPECIAL DEPOSITORY CONTRACT
Full text of Texas The Texas Constitution § LG.131.003 — SPECIAL DEPOSITORY CONTRACT, with citation guidance and answers to common questions.
§ LG.131.003. SPECIAL DEPOSITORY CONTRACT
SPECIAL DEPOSITORY CONTRACT. (a) The contract must require the payment of the deposit in installments as agreed to by the parties. The last installment must be paid not later than three years from the date of the contract. (b) The parties may contract for the installments or the amount due to be evidenced by negotiable certificates of deposit or cashier's checks, payable at specified dates. (c) The contract must set the rate of interest applicable to the funds placed in the special depository under this subchapter unless the parties agree that the funds are not to bear interest. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Frequently Asked Questions About Texas § LG.131.003
What does The Texas Constitution § LG.131.003 cover?
Section LG.131.003 ("SPECIAL DEPOSITORY CONTRACT") 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 § LG.131.003?
A common citation format is "The Texas Constitution § LG.131.003" (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 § LG.131.003 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.