Texas Agriculture Code 56.002 – Purpose
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Terms Used In Texas Agriculture Code 56.002
- 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.
An agricultural finance corporation may be organized to deal in:
(1) acceptances and other receipts that are used to aid or are issued because of the transportation, warehousing, distribution, or financing of ready marketable, staple, nonperishable agricultural products in domestic and foreign trade; and
(2) acceptances of banking corporations not secured by or representing any ready marketable, staple, nonperishable agricultural products.