Sec. 1207.029. SELECTION OF PAYING AGENT. If there is more than one paying agent for an obligation being refunded, the comptroller shall send the money directly to:
(1) the paying agent located in this state, if only one paying agent is located in this state;
(2) the paying agent located in this state having the largest capital and surplus, if more than one paying agent is located in this state; or
(3) the paying agent having the largest capital and surplus, if no paying agent is located in this state and more than one paying agent is located in another state.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Structure Texas Statutes
Subtitle A - General Provisions
Chapter 1207 - Refunding Bonds
Subchapter B. Advance Refunding Procedures
Section 1207.021. Authority to Deposit With Comptroller
Section 1207.023. Amount of Principal
Section 1207.024. Methods and Terms of Sale
Section 1207.027. Comptroller to Accept and Keep Safe Deposits
Section 1207.028. Comptroller to Send and Record Deposit or Payment
Section 1207.029. Selection of Paying Agent
Section 1207.030. Establishment and Use of Trust Fund
Section 1207.031. Withdrawal of Deposit
Section 1207.032. Comptroller Fees