Tex. Gov't Code Section 4005.055
Commercial Paper

The exemption provided by Section 4005.051 (Scope of Exemption) applies to:

(1)

commercial paper that:

(A)

arises out of a current transaction or the proceeds of which have been or are to be used for current transactions; and

(B)

evidences an obligation to pay cash not later than the ninth month after the issuance date of the commercial paper, not including days of grace;

(2)

a renewal of commercial paper described by Subdivision (1) that is similarly limited; or

(3)

a guarantee of commercial paper described by Subdivision (1) or of a renewal described by Subdivision (2).
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.

Source: Section 4005.055 — Commercial Paper, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­4005.­htm#4005.­055 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 4005.055’s source at texas​.gov