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<br />V.T.eA.. Government Code & 2256.103. <br /> <br />& 2256.055. Deposit of Securities Purchased bv State <br /> <br />At the direction of the comptroller or the agency, a security purchased under this chapter may be deposited in trust <br />with a bank or federal reserve bank or branch designated by the comptroller, whether in or outside the state. The <br />deposit shall be held in the entity's name as evidenced by a trust receipt of the bank with which the securities are <br />deposited. <br /> <br />Amended by Acts 1995, 74th Leg., ch. 402, ~ I, eff. Sept. I, 1995; Acts 1997, 75th Leg., ch. 1423, ~ 8.69, eff. Sept. <br />I, 1997. <br /> <br /><General Materials (GM) - References, Annotations, or Tables> <br /> <br />HISTORICAL AND STATUTORY NOTES <br />2000 Main Volume <br /> <br />Acts 1997, 75th Leg., ch. 1423 made conforming amendments to reflect the abolishment of the office of the state <br />treasurer. <br /> <br />Prior Laws: <br />Acts 1967, 60th Leg., p. 915, ch. 401. <br />Acts 1979, 66th Leg., p. 310, ch. 143, ~ 2. <br />Vernon's Ann.Civ.St. art. 6252-5a. & 3. <br />Acts 1993, 73rd Leg., ch. 268, ~ 1. <br />V.T.C.A.. Government Code & 2256.104. <br /> <br />NOTES OF DECISIONS <br /> <br />Delegation of authority ~ <br />Depositories 1 <br /> <br />1. Depositories <br /> <br />Brazos River Authority cannot directly or indirectly deposit its funds in depositories that have not qualified <br />according to law, but in order to qualify as an official depository, the depository selected need not furnish bonds or <br />pledge securities to protect deposits that are insured by the Federal Deposit Insurance Corporation. Op.Atty.Gen. <br />1987, No. JM-832. <br /> <br />Legal requirements for official depositories have not been altered by Vernon's Ann.Texas Civ.St. art. 4413(34c). <br />Op.Atty.Gen. 1987, No. JM-832. <br /> <br />~. Delegation of authority <br /> <br />The Interlocal Cooperation Act, article 4413(32c). V.T.C.S., does not authorize local governments to delegate to <br />another entity their authority to make investments; nor does article 842a-2. V.T.C.S., or article 4413(34c), authorize <br />such delegation. Op.Atty.Gen.1988, No. JM-932. <br /> <br />& 2256.056. Repealed bv Acts 1999. 76th Leg.. ch. 227. & 28(b)(1). eff. Sept. 1. 1999: Acts 1999. 76th Leg.. ch. <br />350. & 1. eff. Sept. 1. 1999 <br /> <br />HISTORICAL AND STATUTORY NOTES <br /> <br />2000 Main Volume <br /> <br />Copr. ~ West 2001 No Claim to Orig. U.S. Govt. Works <br />