Sec. 2257.044. CUSTODIAN AS BAILEE. (a) A custodian under this chapter or a custodian of a security pledged to an institution of higher education, as defined by Section 61.003, Education Code, whether acting alone or through a permitted institution, is for all purposes the bailee or agent of the public entity or institution depositing the public funds with the depository.
(b) To the extent of any conflict, Subsection (a) prevails over Chapter 8 or 9, Business & Commerce Code.
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