Sec. 2210.612. PAYMENT OF CLASS 1 PUBLIC SECURITIES

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(a) The association shall pay Class 1 public securities issued under Section 2210.072 from its net premium and other revenue.
(b) The association may enter financing arrangements as described by Section 2210.072(d) as necessary to obtain public securities issued under Section 2210.072. Nothing in this subsection shall prevent the authorization and creation of one or more programs for the issuance of commercial paper before the date of an occurrence or series of occurrences that results in insured losses under Section 2210.072(a).

Added by Acts 2009, 81st Leg., R.S., Ch. 1408 , Sec. 41, eff. June 19, 2009. Amended by: Acts 2011, 82nd Leg., 1st C.S., Ch. 2 , Sec. 49, eff. September 28, 2011.

                    
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