Sec. 1201.043. USE OF INVESTMENT INCOME. An issuer authorized to invest proceeds from the sale of a public security, including by placing the proceeds on time deposit, may use money earned from the investment for the purpose for which the public security was issued.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle A - General Provisions
Chapter 1201 - Public Security Procedures Act
Subchapter C. Financial Aspects of Public Security
Section 1201.041. Public Security as Negotiable Instrument and Investment Security
Section 1201.042. Use of Certain Proceeds
Section 1201.043. Use of Investment Income
Section 1201.044. Pledge or Lien on Resources, Assets, or Fund of Issuer