Texas Government Code 2256.055 – Deposit of Securities Purchased by State
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Terms Used In Texas Government Code 2256.055
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
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.