Sec. 2257.043. DEPOSITORY AS CUSTODIAN OR PERMITTED INSTITUTION. (a) A public entity other than a state agency may prohibit a depository or an entity of which the depository is a branch from being the custodian of or permitted institution for a security the depository pledges to secure a deposit of public funds.
(b) A depository or an entity of which the depository is a branch may not be the custodian of or permitted institution for a security the depository pledges to secure a deposit of public funds by a state agency.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Structure Texas Statutes
Subtitle F - State and Local Contracts and Fund Management
Chapter 2257 - Collateral for Public Funds
Subchapter C. Custodian; Permitted Institution
Section 2257.041. Deposit of Securities With Custodian
Section 2257.042. Deposit of Securities With Permitted Institution
Section 2257.043. Depository as Custodian or Permitted Institution
Section 2257.044. Custodian as Bailee
Section 2257.045. Receipt of Security by Custodian
Section 2257.046. Books and Records of Custodian; Inspection
Section 2257.047. Books and Records of Permitted Institution
Section 2257.048. Attachment and Perfection of Security Interest