Texas Finance Code

§ 155.005 — EXCHANGE OF DEPOSIT

FI § 155.005Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part E. OTHER FINANCIAL BUSINESSES · Ch. 155. BOND INVESTMENT COMPANIES

Statute text

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(a)On request, the comptroller may allow a bond investment company that has made a deposit under this chapter to alter the composition of the deposit by exchanging cash for securities or securities for cash.

(b)Securities deposited under this section must be approved by the comptroller on the written advice of the attorney general.

Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.