Sec. 2257.045. RECEIPT OF SECURITY BY CUSTODIAN

Latest version.

On receipt of an investment security, a custodian shall:
(1) immediately identify on its books and records, by book entry or another method, the pledge of the security to the public entity; and
(2) promptly issue and deliver to the appropriate public entity officer a trust receipt for the pledged security.

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.

                    
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