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<br />!j 2256.053
<br />
<br />GOVER1'lMENT CODE
<br />Title 10
<br />
<br />through a member in good standing of the National Association of Securities
<br />Dealers or from or through a national or state bank on receiving an invoice
<br />from the seller of the securities showing that the securities have been purchased
<br />by the board or agency and that the amount to be paid for the securities is just,
<br />due, and unpaid. J\ purchase of securities may not be made at a price that
<br />exceeds the existing market value of the securities.
<br />
<br />Amended by Acts 1995, 74th Leg., ch. 402. 9 1. eff. Sept. 1. 1995: Acts] 997. 75th Leg..
<br />ch. ]423,9 8.67. eff. Sept. ]. ] 997.
<br />
<br />Historlc:al and Statutory Notes
<br />
<br />Ac-.s 1997, 75th Leg.. ch. 1423 made eonform-
<br />ing amendments to reflect the abolishment of
<br />the office of the state tre2.SUrer.
<br />
<br />Sections 22.01 to 22.03 of Acts 1997, 75th
<br />Leg.. ch. J 423 provide:
<br />
<br />"Sec. 22.01. The purpose of this Act is to
<br />conform the statutes to reflect the abolishmem
<br />of the office of state treasure~.
<br />
<br />"Sec. 22.02. (a) This Act does not revive a
<br />fund or account that was abolished or consoli-
<br />dated in accordance with Section 403.094, Gov.
<br />emment Code, as added by Chapter 4, Acts of
<br />the 72nd Le2i.slarure, JSt Called Session. 1991.
<br />or in accord';:nce ",ith other law.
<br />
<br />"(h) This Act does not revive a dedication of
<br />money for a pa.....,;cular purpose that was abol.
<br />ished in accordance with Section 403.094. Gov-
<br />ernment Code. as added bv Chaoter 4, Acts of
<br />the 72nd Le2i.s]arure. 1st Called'Se>>ion. 1991,
<br />or in accord~ce wit.l, other law.
<br />
<br />"(c) This Act does not. of itselI. imoose a new
<br />power or duty on the comptroller,' trar.sfe~ a
<br />power or duty to or from the comptroller. reo
<br />create a power or duty no longer possessed or
<br />performed by the comptroller, or abolish a pow.
<br />. er or duty possessed or performed by the comp-
<br />troller, except with regard to:
<br />
<br />"0) the abolished requirement to appoint a
<br />first assistant under Chapter 404, Govemmem
<br />Code: and .
<br />
<br />"(2) maners relating to a bond required of
<br />the comptrolle~ or an emplo~'ee of the comptrol.
<br />ler.
<br />
<br />"Sec. 22.03. (a) Except as provided by Sub-
<br />seclion (b) of this section, if another law enaCI-
<br />ed bv the 75th Leldslarure. Re!!Ular Session,
<br />1997: that is intended in whole -or in pa:-t 10
<br />make a substantive chan!!e to the law conflicts
<br />....ith this Act. the othe~ la~ controls.
<br />
<br />"(h) This Act controls oVe~ another law enact-
<br />ed bv the 75th Le"';.slature, Re!!Ular Session,
<br />1997: with re"ard to~ - .
<br />
<br />"0) the abolished require="ent 10 appoint a
<br />first assistant under Chapte~ 404, Govern.lnent
<br />Code; and
<br />
<br />"(2) maners relating to a bond required of
<br />Ll,e ,~omptrolle~ or an employee of the comptrOl-
<br />le~.
<br />
<br />J
<br />
<br />Prior Laws:
<br />Acts 1967, 60th Leg.. p. 915, ch. 401.
<br />Acts 1979. 66th Leg.. p. 310. ch. 143,9 1.
<br />. Vernon's Ann.Civ.SL art.. 6252-5a. 9 2.
<br />Acts 1993, 73rd Leg.. ch. 268, 9 1.
<br />V.T.C.A.. Government Code 9 2256.J02.
<br />
<br />S 2256.054. Delivery of Securities Purchased by State
<br />
<br />J\ security purchased under this chapter may be delivered to the comptroller.
<br />a bank, or the board or agency investing its funds. The delivery shall be made
<br />under nonnal and recognized practices in the securities and banking indusnies,
<br />including the book entry procedure of the Federal Reserve Bank.
<br />
<br />Amended by Acts ]995, 74th Leg.. ch. 402, 9,1, eff. Sept. ], ]995; Acts ]997. 75th Leg.. ,
<br />ch. 1423,9 8.68, eff. Sept. ], ]997.
<br />
<br />Historlc:al and Statutory Notes
<br />
<br />Acts 1997. 75th Leg.. ch. 1423 made conform- Prior Laws:
<br />ing amendments to reflect the abolishment of Acts t967, 60th Leg.. p. 915. ch. 401.
<br />the office of the state trC:lSurer. Acts, 1979, -b6th Leg.. p. 310, ch. 143,9 !.
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