Texas Statutes
Subchapter F. Pooled Collateral to Secure
Section 2257.102. Pooled Collateral Program

Sec. 2257.102. POOLED COLLATERAL PROGRAM. (a) As an alternative to collateralization under Subchapter B, the comptroller by rule shall establish a program for centralized pooled collateralization of deposits of public funds and for monitoring collateral maintained by participating institutions. The rules must provide that deposits of public funds of a county are not eligible for collateralization under the program. The comptroller shall provide for a separate collateral pool for any single participating institution's deposits of public funds.
(b) Under the pooled collateral program, the collateral of a participating institution pledged for a public deposit may not be combined with, cross-collateralized with, aggregated with, or pledged to another participating institution's collateral pools for pledging purposes.
(c) A participating institution may pledge its pooled securities to more than one participating depositor under contract with that participating institution.
(d) The pooled collateral program must provide for:
(1) participation in the program by a participating institution and each affected public entity to be voluntary;
(2) uniform procedures for processing all collateral transactions that are subject to an approved security agreement described by Section 2257.103; and
(3) the pledging of a participating institution's collateral securities using a single custodial account instead of an account for each depositor of public funds.
Added by Acts 2009, 81st Leg., R.S., Ch. 486 (S.B. 638), Sec. 1, eff. September 1, 2009.

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