Tex. Gov't Code § 1203.042 · Subchapter C. CONVERSION OR EXCHANGE OF PUBLIC SECURITY
APPROVAL AND REGISTRATION OF CONVERTED OR EXCHANGED PUBLIC SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies to a public security only if:
(1) the public security authorization relating to the security provides that the security is fully registrable or is of the type that has one or more coupons and that the security may be exchanged; or
(2) the security has been converted under Section 1203.041.
(b) If the public security was initially approved by the attorney general and registered by the comptroller, on exchange or conversion of the security:
(1) a public security that results from the exchange or conversion is considered to have been approved by the attorney general and registered by the comptroller;
(2) the attorney general is not required to approve the resulting security; and
(3) the comptroller is not required to register the resulting security.
(c) If a public security is exchanged, the registrar shall have an appropriate inscription placed on the public security received in exchange verifying that the security received in exchange is in place of the security presented for exchange. The inscription must be manually signed.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1203.htm
- Text hash
- sha256 187534859cf31a06c2d29eafdf084837fe17fcfce3b74e80dae4204329c193ef
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.