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V.T.C.A., Government Code $ 2256.103.
<br />$ 2256.055. Deposit of Securities Purchased by State
<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 />Amended by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 1423, § 8.69, eff. Sept.
<br />1, 1997.
<br /><General Materials (GIV) - References, Annotations, or Tables>
<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
<br />Acts 1997, 75th Leg., ch. 1423 made conforming amendments to reflect the abolishment of the office of the state
<br />treasurer.
<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 S 2256.104.
<br />NOTES OF DECISIONS
<br />Delegation of authority 2
<br />Depositories 1
<br />1. Depositories
<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. OpAtty.Gen.
<br />1987, Na JM-832.
<br />Legal requirements for official depositories have not been altered by Vernon's Ann.Texas Civ.St. art. 4413(34c).
<br />OpAtty.Gen. 1987, Na JM-832.
<br />2. Delegation of authority
<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. OpAtty.Gen.1988, Na JM-932.
<br />$ 2256.056. Repealed by Acts 1999, 76th Leg., ch. 227, $ 28(b)(1), eff.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 />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
<br />Copr. C West 2001 No Claim to Orig. U. S. Govt. Works
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