Texas § SD.8501.268 - INSURING IMPROVEMENTS AND FACILITIES
Full text of Texas The Texas Constitution § SD.8501.268 — INSURING IMPROVEMENTS AND FACILITIES, with citation guidance and answers to common questions.
§ SD.8501.268. INSURING IMPROVEMENTS AND FACILITIES
INSURING IMPROVEMENTS AND FACILITIES. (a) The board may enter into, under terms to which the board agrees, an agreement with the purchaser of an obligation issued under this chapter to: (1) keep all the improvements and facilities, the revenue of which is pledged to the payment of the obligation, insured with insurers of good standing against loss or damage by fire, water or flood, or another hazard that private companies that operate similar property customarily cover by insurance; and (2) carry with one or more insurers of good standing the insurance covering the use and occupancy of the property as is customarily carried by private companies that operate similar property. (b) The cost of the insurance shall be budgeted as a maintenance and operation expense. (c) The insurance shall be carried for the benefit of the holder of the obligation. Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Frequently Asked Questions About Texas § SD.8501.268
What does The Texas Constitution § SD.8501.268 cover?
Section SD.8501.268 ("INSURING IMPROVEMENTS AND FACILITIES") 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 § SD.8501.268?
A common citation format is "The Texas Constitution § SD.8501.268" (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 § SD.8501.268 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.