Laserfiche WebLink
law, a state agency shall employ a private auditor if authorized by <br />the legislative audit committee either on the committee's <br />initiative or on request of the governing body of the agency. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. l, <br />1995. <br />Sec. 2256.053. PAYMENT FOR SECURITIES PURCHASED BY STATE. The <br />comptroller or the disbursing officer of an agency that has the <br />power to invest assets directly may pay for authorized securities <br />purchased from or through a member in good standing of the National <br />Association of Securities Dealers or from or through a national or <br />state bank on receiving an invoice from the seller of the <br />securities showing that the securities have been purchased by the <br />board or agency and that the amount to be paid for the securities <br />is just, due, and unpaid. A purchase of securities may not be made <br />at a price that exceeds the existing market value of the <br />securities. <br />Amended by Acts 1995, 74th Leg., ch. 402, Sec. l, eff. Sept. 1, <br />1995; Acts 1997, 75th Leg., ch. 1423, Sec. 8.67, eff. Sept. 1, <br />1997. <br />Sec. 2256.054. DELIVERY OF SECURITIES PURCHASED BY STATE. A <br />security purchased under this chapter may be delivered to the <br />comptroller, a bank, or the board or agency investing its funds. <br />The delivery shall be made under normal and recognized practices in <br />the securities and banking industries, including the book entry <br />Page -41 - <br />