Texas Agriculture Code 56.001 – Definitions
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Terms Used In Texas Agriculture Code 56.001
- 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.
In this chapter:
(1) “Agricultural finance corporation” means a corporation formed under this chapter.
(2) “Ready marketable, staple, nonperishable agricultural products” means agricultural products that:
(A) are commonly dealt in ready markets so that their values are easily and definitely ascertainable and realized on short notice; and
(B) ordinarily do not substantially depreciate in quality during the period of immaturity of the obligations that are secured by or that represent those products.