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Texas Finance Code - FIN § 154.353. Deposit of Fund or Portion of Fund

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The fund or a portion of the fund may be deposited:

(1) with the comptroller;

(2) with a federally insured financial institution that has its main office or a branch in this state; or

(3) in trust with a financial institution that has its main office or a branch in this state and is authorized to act as a fiduciary in this state.

(b) If the fund or a portion of the fund is deposited with the comptroller, the comptroller shall manage the deposit as trustee of money outside the state treasury.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 154.353. Deposit of Fund or Portion of Fund - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-154-353/

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