Texas Government Code 2257.103 – Participation in Pooled Collateral Program
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 2257.103
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
A financial institution may participate in the pooled collateral program only if:
(1) the institution has entered into a binding collateral security agreement with a public agency for a deposit of public funds and the agreement permits the institution’s participation in the program;
(2) the comptroller has approved the institution’s participation in the program; and
(3) the comptroller has approved or provided the collateral security agreement form used.