Sec. 2203.357. CONTENTS OF BOND RESOLUTION; ADMINISTRATION OF ACCOUNTS. (a) In a bond resolution, the board may:
(1) provide for the flow of funds and the establishment, maintenance, and investment of funds and special accounts with regard to the bonds, including an interest and sinking fund account, a reserve account, and other accounts; and
(2) make additional covenants with regard to the bonds and the designated income and receipts of the association pledged to the payment of the bonds.
(b) The association shall administer the accounts in accordance with this chapter.
Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.
Structure Texas Statutes
Title 10 - Property and Casualty Insurance
Subtitle G - Pools, Groups, Plans, and Self-Insurance
Chapter 2203 - Medical Liability Insurance Joint Underwriting Association
Subchapter H. Revenue Bond Program
Section 2203.353. Applicability of Other Laws
Section 2203.354. Issuance of Bonds Authorized
Section 2203.355. Limitation on Amount of Bonds
Section 2203.356. Terms of Issuance
Section 2203.357. Contents of Bond Resolution; Administration of Accounts
Section 2203.358. Source of Payment
Section 2203.359. Surcharge Fee
Section 2203.360. Exemption From Taxation
Section 2203.361. Authorized Investments
Section 2203.362. State Pledge Regarding Bond Owner Rights and Remedies