Texas Government Code 1371.101 – Obligation as Negotiable Instrument and Investment Security
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Terms Used In Texas Government Code 1371.101
- 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.
An obligation is:
(1) a negotiable instrument; and
(2) an investment security to which Chapter 8, Business & Commerce Code, applies.