Texas Government Code 493.0082 – Disposition of Certain Financial Assets
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(a) All money and other financial assets collected or received by the department shall be deposited:
(1) in the general revenue fund of the state treasury;
(2) in trust with the comptroller; or
(3) in a local bank account on approval by the comptroller.
(b) For purposes of this section, a financial asset collected or received by the department includes:
(1) an asset held outside the state treasury; or
(2) an asset held in trust by the department, such as money held in an inmate or employee trust account or in an education and recreation account.
Terms Used In Texas Government Code 493.0082
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC