Texas § AG.59.021 - FUND
Full text of Texas The Texas Constitution § AG.59.021 — FUND, with citation guidance and answers to common questions.
§ AG.59.021. FUND
FUND. (a) The farm and ranch finance program fund is a fund in the state treasury. (b) At the direction of the board, money received from the state or federal government or from any other person, in addition to proceeds from bonds issued under this chapter, may be deposited to the credit of the fund. (c) The board may provide for establishing and maintaining separate accounts in the fund, including program accounts, an interest and sinking account, a reserve account, and any other accounts provided for by resolution of the board. (d) Money received as repayment of financial assistance shall be deposited first in the interest and sinking account as provided by resolution of the board authorizing its bonds until that account is fully funded as provided by resolution of the board. (e) The fund and each account in the fund shall be kept and maintained at the direction of the board and held in trust by the comptroller for and on behalf of the board and the owners of the bonds issued under this chapter. (f) The fund may be used only as provided by this chapter. (g) Pending its use, money in the fund shall be invested as provided by the resolution authorizing issuance of the bonds. (h) The board may receive, and shall deposit in the fund, appropriations, grants, donations, earned federal funds, and the proceeds of any investment pools operated by the comptroller. Text of subsec. (i) as added by Acts 1995, 74th Leg., ch. 858, Sec. 2 (i) In addition to other uses provided by this chapter, the authority may use money in the fund to pay costs and expenses of administering the program. Text of subsec. (i) as added by Acts 1995, 74th Leg., ch. 1014, Sec. 11 (i) The board may use money in the fund to pay the costs and expenses of administering the program. Added by Acts 1993, 73rd Leg., ch. 542, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1995, 74th Leg., ch. 858, Sec. 2, eff. Sept. 1, 1995; Acts 1995, 74th Leg., ch. 1014, Sec. 11, eff. Jan. 1, 1996; Acts 1997, 75th Leg., ch. 1423, Sec. 2.10, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § AG.59.021
What does The Texas Constitution § AG.59.021 cover?
Section AG.59.021 ("FUND") 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.59.021?
A common citation format is "The Texas Constitution § AG.59.021" (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.59.021 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.