15.112 – CONTRACTS INCONTESTABLE. Contracts entered into
Texas Water Code § 15.112
Summary
This law ensures that contracts related to bond payments by political subdivisions are valid and cannot be contested once certain conditions are met. It primarily affects political subdivisions and entities involved in bond issuance and management.
Contracts become incontestable after attorney general approval.
Registration by the comptroller is required for validity.
Delivery of bonds to the purchaser finalizes the contract.
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In simple terms: Learn about Texas's CONTRACTS INCONTESTABLE. Contracts entered into 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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