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407
<br />The comptroller or the disbursing officer of an agency that has the power to invest assets directly may pay for
<br />authorized securities purchased from or through a member in good standing of the National Association of
<br />Securities Dealers or from or through a national or state bank on receiving an invoice from the seller of the securities
<br />showing that the securities have been purchased by the board or agency and that the amount to be paid for the
<br />securities is just, due, and unpaid. A purchase of securities may not be made at a price that exceeds the existing
<br />market value of the securities.
<br />Amended by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 1423, § 8.67, eff. Sept.
<br />1, 1997.
<br /><General Materials (GM) - 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 />Sections 22.01 to 22.03 of Acts 1997, 75th Leg., ch. 1423 provide:
<br />"Sec. 22.01. The purpose of this Act is to conform the statutes to reflect the abolishment of the office of state
<br />treasurer.
<br />"Sec. 22.02. (a) This Act does not revive a fund or account that was abolished or consolidated in accordance with
<br />Section 403.094. Government Code, as added by Chapter 4, Acts of the 72nd Legislature, 1st Called Session, 1991,
<br />or in accordance with other law.
<br />"(b) This Act does not revive a dedication of money for a particular purpose that was abolished in accordance with
<br />Section 403.094, Government Code, as added by Chapter 4, Acts of the 72nd Legislature, 1st Called Session, 1991,
<br />or in accordance with other law.
<br />"(c) Tbis Act does not, of itself, impose a new power or duty on the comptroller, transfer a power or duty to or from
<br />the comptroller, re- create a power or duty no longer possessed or performed by the comptroller, or abolish a power
<br />or duty possessed or performed by the comptroller, except with regard to:
<br />"(1) the abolished requirement to appoint a first assistant under Chapter 404, Government Code; and
<br />"(2) matters relating to a bond required of the comptroller or an employee of the comptroller.
<br />"Sec. 22.03. (a) Except as provided by Subsection (b) of this section, if another law enacted by the 75th Legislature,
<br />Regular Session, 1997, that is intended in whole or in part to make a substantive change to the law conflicts with this
<br />Act, the other law controls.
<br />"(b) This Act controls over another law enacted by the 75th Legislature, Regular Session, 1997, with regard to:
<br />"(1) the abolished requirement to appoint a first assistant under Chapter 404, Government Code; and
<br />"(2) matters relating to a bond required of the comptroller or an employee of the comptroller."
<br />Prior Laws:
<br />Acts 1967, 60th Leg., p. 915, ch. 401.
<br />Acts 1979, 66th Leg., p. 310, ch. 143, § 1.
<br />Vernon's Ann.Civ.St. art. 6252 -5a, 2.
<br />Acts 1993, 73rd Leg., ch. 268, § 1.
<br />V.T.C.A., Government Code S 2256.102.
<br />Copr. m West 2001 No Claim to Orig. U.S. Govt. Works
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