Tex. Gov't Code § 2257.102 · Subchapter F. POOLED COLLATERAL TO SECURE DEPOSITS OF CERTAIN PUBLIC FUNDS
POOLED COLLATERAL PROGRAM.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) As an alternative to collateralization under Subchapter B, the comptroller by rule shall establish a program for centralized pooled collateralization of deposits of public funds and for monitoring collateral maintained by participating institutions. The rules must provide that deposits of public funds of a county are not eligible for collateralization under the program. The comptroller shall provide for a separate collateral pool for any single participating institution's deposits of public funds.
(b) Under the pooled collateral program, the collateral of a participating institution pledged for a public deposit may not be combined with, cross-collateralized with, aggregated with, or pledged to another participating institution's collateral pools for pledging purposes.
(c) A participating institution may pledge its pooled securities to more than one participating depositor under contract with that participating institution.
(d) The pooled collateral program must provide for:
(1) participation in the program by a participating institution and each affected public entity to be voluntary;
(2) uniform procedures for processing all collateral transactions that are subject to an approved security agreement described by Section 2257.103; and
(3) the pledging of a participating institution's collateral securities using a single custodial account instead of an account for each depositor of public funds.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 486 (S.B. 638), Sec. 1, eff. September 1, 2009.
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 5024ea92aca4a4f817958125f457c2158e2c86b6ee2a2926f7d8e2b8d375f841
- 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
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