Texas § AG.58.071 - DEFINITIONS
Full text of Texas The Texas Constitution § AG.58.071 — DEFINITIONS, with citation guidance and answers to common questions.
§ AG.58.071. DEFINITIONS
DEFINITIONS. In this subchapter: (1) "Eligible lending institution" means a financial institution that makes commercial loans, is either a depository of state funds or an institution of the Farm Credit System, and agrees to participate in the farmer interest rate reduction program and to provide collateral equal to the amount of linked deposits placed with it. (2) "Linked deposit" means a time deposit governed by a written deposit agreement between the state and an eligible lending institution that provides: (A) that the eligible lending institution pay interest on the deposit at a rate that is not less than the greater of: (i) the current market rate of a United States treasury bill or note of comparable maturity minus three percent; or (ii) 0.5 percent; (B) that the state not withdraw any part of the deposit before the expiration of a period set by a written advance notice of the intention to withdraw; and (C) that the eligible lending institution agree to lend the value of the deposit to an eligible borrower at a maximum rate that is the linked deposit rate plus a maximum of one percent. Added by Acts 2009, 81st Leg., R.S., Ch. 506 (S.B. 1016 ), Sec. 1.16, eff. September 1, 2009. Amended by: Acts 2025, 89th Leg., R.S., Ch. 709 (H.B. 43 ), Sec. 7, eff. June 20, 2025.
Frequently Asked Questions About Texas § AG.58.071
What does The Texas Constitution § AG.58.071 cover?
Section AG.58.071 ("DEFINITIONS") 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 § AG.58.071?
A common citation format is "The Texas Constitution § AG.58.071" (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 § AG.58.071 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.