1205.023 – PROCEEDING IN REM; CLASS ACTION. An action
Texas Government Code § 1205.023
Summary
This law establishes that certain legal actions are classified as proceedings in rem and can be pursued as class actions. It affects individuals who reside, own property, or have financial interests in the territory of the issuer involved in the public security authorization.
Establishes proceedings in rem for specific legal actions.
Class actions bind residents, property owners, and taxpayers.
Applies to those with interests in public securities.
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In simple terms: Learn about Texas's PROCEEDING IN REM; CLASS ACTION. An action law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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