Tex. Gov't Code § 2256.053 · Subchapter B. MISCELLANEOUS PROVISIONS
PAYMENT FOR SECURITIES PURCHASED BY STATE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The comptroller or the disbursing officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or through a member in good standing of the National Association of Securities Dealers or from or through a national or state bank on receiving an invoice from the seller of the securities showing that the securities have been purchased by the board or agency and that the amount to be paid for the securities is just, due, and unpaid. A purchase of securities may not be made at a price that exceeds the existing market value of the securities.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., R.S., Ch. 268 (S.B. 248), Sec. 1, eff. September 1, 1993.
Amended by:
Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.
Acts 1997, 75th Leg., ch. 1423, Sec. 8.67, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2256.htm
- Text hash
- sha256 2e22d54ed37fc92b106289b343f71cc35c459fb68678180491cea1d4cc518e3d
- 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
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.