PUBLIC SECURITY AS NEGOTIABLE INSTRUMENT AND INVESTMENT SECURITY
Known as the Public Security Procedures Act
The act spans §§ 1201.001 to 1201.067 (26 sections).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff
A public security is:
(1) a negotiable instrument;
(2) an investment security to which Chapter 8, Business & Commerce Code, applies; and
(3) a legal and authorized investment for:
(A) an insurance company;
(B) a fiduciary or trustee; or
(C) a sinking fund of a municipality or other political subdivision or public agency of this state.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.