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TITLE 1ADMINISTRATION
PART 4OFFICE OF THE SECRETARY OF STATE
CHAPTER 97BUSINESS OPPORTUNITY
SUBCHAPTER DIRREVOCABLE LETTER OF CREDIT
RULE §97.42Cancellation of Irrevocable Letter of Credit

An irrevocable letter of credit established in accordance with §97.41 of this title (relating to Requirements of Irrevocable Letter of Credit) shall be maintained until the earlier of:

  (1) approval of the secretary of state to cancel the irrevocable letter of credit; or

  (2) two years after the registrant formally terminates registration.

Source Note: The provisions of this §97.42 adopted to be effective September 7, 1988, 13 TexReg 4233; amended to be effective September 3, 2009, 34 TexReg 5895

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