Tex. Gov't Code § 2257.045 · Subchapter C. CUSTODIAN; PERMITTED INSTITUTION
RECEIPT OF SECURITY BY CUSTODIAN.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) On receipt of an investment security, a custodian shall immediately identify on its books and records, by book entry or another method, the pledge of the security to the public entity.
(b) For a deposit of public funds under Subchapter F, the custodian shall issue and deliver to the comptroller a trust receipt for the pledged security.
(c) For any other deposit of public funds under this chapter, at the written direction of the appropriate public entity officer, the custodian shall:
(1) issue and deliver to the appropriate public entity officer a trust receipt for the pledged security; or
(2) issue and deliver a trust receipt for the pledged security to the public entity's depository and instruct the depository to deliver the trust receipt to the public entity officer immediately.
(d) The custodian shall issue and deliver the trust receipt as soon as practicable on the same business day on which the investment security is received.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 434 (S.B. 581), Sec. 1, eff. June 14, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2257.htm
- Text hash
- sha256 a70689f10468cc9062cc72938ddb312b310741a862e47acda591699b543bb007
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Gov't Code § 2257.045. Each shows the citation as that text prints it.
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.