Texas Education Code - Section 52.68. Terms
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§ 52.68. TERMS. (a) Savings bonds issued under this
subchapter must mature serially or otherwise not more than 25 years
after they are issued.
(b) The college savings bonds:
(1) must be zero coupon bonds, capital appreciation
bonds, compound interest bonds, municipal multiplier bonds,
capital accumulator bonds, or a similar type of bond that will
encourage the purchaser to hold the bond until maturity; and
(2) must be issued in small denominations of $1,000 or
less at a price the board determines to be the most advantageous
reasonably obtainable and that renders the bonds attractive for the
purpose of financing the costs of higher education.
(c) The college savings bonds may not be redeemed by the
state before maturity.
Added by Acts 1989, 71st Leg., ch. 1084, § 2.08.
Section: 52.61 52.62 52.63 52.64 52.65 52.66 52.67 52.68 52.69 52.70 52.71 52.72 52.73 52.74 52.81
Last modified: August 10, 2007
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