Texas Insurance Code

§ 201.005 — TRANSFER OF SECURITIES

IN § 201.005Title 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES · Part A. GENERAL PROVISIONS · Ch. 201. COLLECTION OF REVENUE AND ADMINISTRATION OF FUNDS · Art. A. GENERAL PROVISIONS

Statute text

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(a)A transfer by the department of any security that is held in any way by the department is not valid unless the transfer is countersigned by the comptroller.

(b)The comptroller shall:

(1)countersign any security transfer presented by the department;

(2)keep a record of all transfers that includes:

(A)the name of the transferee, unless the security is transferred in blank; and

(B)a description of the security;

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Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 1, eff. April 1, 2005.