Texas § LA.203.102 - OBLIGATION TRUST FUND
Full text of Texas The Texas Constitution § LA.203.102 — OBLIGATION TRUST FUND, with citation guidance and answers to common questions.
§ LA.203.102. OBLIGATION TRUST FUND
OBLIGATION TRUST FUND. (a) The obligation trust fund is a dedicated trust fund outside of the state treasury in the custody of the comptroller. The obligation trust fund is composed of: (1) revenue received under Section 203.105 ; and (2) any surplus revenue transferred from the compensation fund under Section 204.065 . (b) The commission and governor may use money in the obligation trust fund without legislative appropriation to pay: (1) bond obligations and bond administrative expenses; and (2) principal and interest incurred on advances from the federal trust fund. Acts 1993, 73rd Leg., ch. 269, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1995, 74th Leg., ch. 1004, Sec. 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 1423, Sec. 12.08, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 317, Sec. 2, eff. June 18, 2003; Acts 2003, 78th Leg., ch. 817, Sec. 6.02, eff. June 20, 2003. Amended by: Acts 2007, 80th Leg., R.S., Ch. 34 (S.B. 679 ), Sec. 1, eff. May 4, 2007.
Frequently Asked Questions About Texas § LA.203.102
What does The Texas Constitution § LA.203.102 cover?
Section LA.203.102 ("OBLIGATION TRUST 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 § LA.203.102?
A common citation format is "The Texas Constitution § LA.203.102" (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.203.102 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.