Texas Agriculture Code 56.005 – Investment of Capital
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Terms Used In Texas Agriculture Code 56.005
- 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.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
At all times, an agricultural finance corporation shall have one-half or more of its paid-in capital invested in obligations of the United States, this state, or political subdivisions or incorporated cities of this state.