Sec. 1201.021. CHARACTERISTICS OF PUBLIC SECURITY. A public security may:
(1) be issued in any denomination;
(2) bear no interest or bear interest at one or more specified rates;
(3) be issued with one or more interest coupons or without a coupon;
(4) be issued as redeemable before maturity at one or more specified times; and
(5) be payable:
(A) at one or more times;
(B) in installments or a specified amount or amounts;
(C) at a specified place or places;
(D) under specified terms; and
(E) in a specified form or manner.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
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