Texas Agriculture Code

§ 56.002 — PURPOSE

AG § 56.002Title 4. AGRICULTURAL ORGANIZATIONS · Ch. 56. AGRICULTURAL FINANCE CORPORATIONS

Statute text

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.

Legislative history

Acts 1981, 67th Leg., p. 1124, ch. 388, Sec. 1, eff. Sept. 1, 1981.