Texas § LA.407.128 - POSSESSION OF SECURITY BY ASSOCIATION
Full text of Texas The Texas Constitution § LA.407.128 — POSSESSION OF SECURITY BY ASSOCIATION, with citation guidance and answers to common questions.
§ LA.407.128. POSSESSION OF SECURITY BY ASSOCIATION
POSSESSION OF SECURITY BY ASSOCIATION. On the assumption of obligations by the association under the commissioner's determination, the association is entitled to immediate possession of any deposited security, and the custodian, surety, or issuer of an irrevocable letter of credit shall deliver the security to the association with any accrued interest. Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993. Amended by: Acts 2005, 79th Leg., Ch. 265 (H.B. 7 ), Sec. 3.068, eff. September 1, 2005.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § LA.407.128
What does The Texas Constitution § LA.407.128 cover?
Section LA.407.128 ("POSSESSION OF SECURITY BY ASSOCIATION") 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 § LA.407.128?
A common citation format is "The Texas Constitution § LA.407.128" (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 § LA.407.128 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.