Texas Statutes (Last Updated: January 4, 2014) |
PROPERTY CODE |
Title 10. MISCELLANEOUS BENEFICIAL PROPERTY INTERESTS |
Subtitle B. FIDUCIARIES |
Chapter 161. MANAGEMENT AND CONTROL OF SECURITIES |
Subchapter C. DEPOSIT OF SECURITY WITH FEDERAL RESERVE BANK OR CLEARING CORPORATION |
Sec. 161.053. BULK HOLDINGS
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A clearing corporation may merge and hold in bulk certificates representing the same class of securities of the same issuer that are deposited with it under this subchapter, together with any other securities deposited with the clearing corporation by any person in the name of the nominee of the clearing corporation, regardless of the ownership of the securities. Certificates of small denomination may be merged into one or more certificates of larger denomination.
Acts 1983, 68th Leg., p. 3718, ch. 576, Sec. 1, eff. Jan. 1, 1984.