Sec. 2256.055. DEPOSIT OF SECURITIES PURCHASED BY STATE. At the direction of the comptroller or the agency, a security purchased under this chapter may be deposited in trust with a bank or federal reserve bank or branch designated by the comptroller, whether in or outside the state. The deposit shall be held in the entity's name as evidenced by a trust receipt of the bank with which the securities are deposited.
Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 1423, Sec. 8.69, eff. Sept. 1, 1997.
Structure Texas Statutes
Subtitle F - State and Local Contracts and Fund Management
Chapter 2256 - Public Funds Investment
Subchapter B. Miscellaneous Provisions
Section 2256.051. Electronic Funds Transfer
Section 2256.052. Private Auditor
Section 2256.053. Payment for Securities Purchased by State