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Texas Natural Resources Code

§ 162.0041 — CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS

NR § 162.0041Title 7. RESOURCES PROGRAMS · Ch. 162. VETERANS' HOUSING ASSISTANCE PROGRAM · Art. A. GENERAL PROVISIONS

Statute text

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With the approval of the comptroller, the board, in managing the assets of the fund, pending the completion of an investment transaction, may:
(1)select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the cash or securities of the fund; and
(2)authorize the custodian to invest cash held under Subdivision (1) in the investments determined by the board.

Legislative history

Added by Acts 1997, 75th Leg., ch. 71, Sec. 4, eff. May 9, 1997.

Source: Texas Natural Resources Code § 162.0041 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.