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 their values are easily and definitely ascertainable and realized on short notice; and
(B) ordinarily do not substantially depreciate in quality during the period of immaturity of the obligations that are secured by or that represent those products.
Acts 1981, 67th Leg., p. 1123, ch. 388, Sec. 1, eff. Sept. 1, 1981.
Section: 56.001 56.002 56.003 56.004 56.005 56.006 56.007 NextLast modified: September 28, 2016