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Tex. Agriculture Code § 56.001 Definitions
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Sec. 56.001. DEFINITIONS. 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 t…
Tex. Agriculture Code § 56.002 Purpose
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Sec. 56.002. PURPOSE. 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 agricultu…
Tex. Agriculture Code § 56.003 Assets Represented By Acceptances of Banking Corporations
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Sec. 56.003. ASSETS REPRESENTED BY ACCEPTANCES OF BANKING CORPORATIONS. At any time, the total assets of an agricultural finance corporation that are represented by acceptances of banking corporations not secured by or representing ready marketable, staple, nonperishable agricult…
Tex. Agriculture Code § 56.004 Capital Stock
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Sec. 56.004. CAPITAL STOCK. At all times an agricultural finance corporation shall have authorized capital stock in the amount of $500,000 or more. Acts 1981, 67th Leg., p. 1124, ch. 388, Sec. 1, eff. Sept. 1, 1981.