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Texas Government Code - GOV'T § 1207.031. Withdrawal of Deposit

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

(a) An issuer that has made the deposit and payments required by this subchapter may apply to the comptroller to withdraw from the paying agent the amount of money deposited to the credit of the account of an obligation that has been refunded, including interest and premium, if any, by exhibiting the canceled obligation to the comptroller.  The comptroller shall make a proper record of payment and cancellation of that obligation.

(b) An issuer may withdraw money deposited under this subchapter only if:

(1) the conditions stated in Subsection (a) are met;  or

(2) the attorney general certifies to the comptroller that the issuer's payment of the obligation as to which the deposit was made is barred by limitation and forbidden by law.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1207.031. Withdrawal of Deposit - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1207-031/

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