Texas § WA.27.050 - FINANCIAL RESPONSIBILITY

Full text of Texas The Texas Constitution § WA.27.050 — FINANCIAL RESPONSIBILITY, with citation guidance and answers to common questions.

§ WA.27.050. FINANCIAL RESPONSIBILITY

FINANCIAL RESPONSIBILITY. (a) A person to whom a permit is issued under this subchapter must provide to the railroad commission annually evidence of financial responsibility that is satisfactory to the railroad commission. (b) In determining whether the person is financially responsible, the railroad commission shall rely on: (1) the person's most recent quarterly report filed with the United States Securities and Exchange Commission under Section 13 or 15(d), Securities Exchange Act of 1934 (15 U.S.C. Section 78m or 78o(d)); or (2) if the person is not required to file with the United States Securities and Exchange Commission a report described by Subdivision (1), the person's most recent audited financial statement. Added by Acts 2009, 81st Leg., R.S., Ch. 224 (S.B. 1387 ), Sec. 2, eff. September 1, 2009. SUBCHAPTER D. ISSUANCE OF PERMITS: TERMS AND CONDITIONS

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Frequently Asked Questions About Texas § WA.27.050

What does The Texas Constitution § WA.27.050 cover?

Section WA.27.050 ("FINANCIAL RESPONSIBILITY") 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 § WA.27.050?

A common citation format is "The Texas Constitution § WA.27.050" (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 § WA.27.050 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.