1207.034 – RIGHT TO DEMAND OR RECEIVE EARLY PAYMENT. The
Texas Government Code § 1207.034
Summary
This law restricts holders of obligations eligible for refunding bonds from demanding early payment unless explicitly allowed in the refunding bond proceedings. It primarily affects bondholders and issuers involved in refunding bond transactions.
Holders cannot demand early payment before scheduled dates.
Early payment is only allowed if specified in bond proceedings.
Applies to obligations being refunded by refunding bonds.
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In simple terms: Learn about Texas's RIGHT TO DEMAND OR RECEIVE EARLY PAYMENT. The 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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