Texas § GV.4005.056 - SECURED DEBT
Full text of Texas The Texas Constitution § GV.4005.056 — SECURED DEBT, with citation guidance and answers to common questions.
§ GV.4005.056. SECURED DEBT
SECURED DEBT. The exemption provided by Section 4005.051 applies to notes, bonds, or other evidence of indebtedness or certificates of ownership that: (1) are equally and proportionately secured without reference of priority of one over another; and (2) by the terms of the instrument creating the lien, continue to be secured by the deposit with a trustee of recognized responsibility approved by the commissioner of any of the securities specified in: (A) Section 4005.017 , if the deposited securities have an aggregate par value of not less than 110 percent of the par value of the securities being secured; or (B) Section 4005.052 , if the deposited securities have an aggregate par value of not less than 125 percent of the par value of the securities being secured. Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.
Frequently Asked Questions About Texas § GV.4005.056
What does The Texas Constitution § GV.4005.056 cover?
Section GV.4005.056 ("SECURED DEBT") 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.4005.056?
A common citation format is "The Texas Constitution § GV.4005.056" (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.4005.056 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.