SECTION 37.671. Standby Trust Agreement

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(a) A standby trust agreement for liability, as specified in §37.521 of this title (relating to Irrevocable Standby Letter of Credit for Liability), must be worded as specified in the Standby Trust Agreement in this subsection, except that the instructions in parenthesis are to be replaced with the relevant information and the parenthesis deleted.

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(b) A certification of acknowledgment must be worded as specified in the Certification of Acknowledgment in this subsection and must accompany the trust agreement for a standby trust fund as specified in this chapter.

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Source Note: The provisions of this §37.671 adopted to be effective March 21, 2000, 25 TexReg 2347; amended to be effective February 13, 2003, 28 TexReg 1196

                    
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