Texas Government Code 1203.001 – Definitions
Terms Used In Texas Government Code 1203.001
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
In this chapter:
(1) “Fully registrable,” with respect to a public security, means that:
(A) the principal of and interest on the public security are payable only to the registered owner of the public security;
(B) the principal of the public security is payable on presentation of the public security at the place of payment; and
(C) the interest on the public security is payable to the registered owner of the public security at the most recent address of that owner as shown on the books of the registrar.
(2) “Issuer” means this state or a department, board, authority, agency, district, municipal corporation, political subdivision, instrumentality, or other political corporation of this state that is authorized to issue public securities.
(3) “Public security” means a bond, note, certificate of obligation, certificate of indebtedness, or other obligation for the payment of money lawfully issued by an issuer.
(4) “Public security authorization” means the resolution, order, or ordinance authorizing the issuance of a public security.
(5) “Registered owner” means:
(A) the payee named in a fully registrable public security; or
(B) the legal representative of or successor to that payee.