Texas § HS.362.037 - TRUST AS SECURITY
Full text of Texas The Texas Constitution § HS.362.037 — TRUST AS SECURITY, with citation guidance and answers to common questions.
§ HS.362.037. TRUST AS SECURITY
TRUST AS SECURITY. (a) The issuer's governing body may additionally secure bonds, including refunding bonds, by a trust indenture under which the trustee may be a bank that has trust powers and that is located inside or outside the state. (b) Regardless of any mortgage, deed of trust lien, or security interest under Section 362.038 , the trust indenture may: (1) contain any provision that the governing body prescribes for the security of the bonds and the preservation of the trust estate; (2) provide for amendment or modification of the trust indenture; (3) condition the right to spend the issuer's money or sell an issuer's system as provided by the trust indenture; (4) provide in other manners for protection and enforcement of bondholders' rights and remedies as is reasonable and proper; and (5) provide for the issuance of replacement bonds for lost, stolen, or mutilated bonds. Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Frequently Asked Questions About Texas § HS.362.037
What does The Texas Constitution § HS.362.037 cover?
Section HS.362.037 ("TRUST AS SECURITY") 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 § HS.362.037?
A common citation format is "The Texas Constitution § HS.362.037" (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 § HS.362.037 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.