Tex. Gov't Code Section 404.022
Applications


(a)

The comptroller, not later than the first business day in May of each odd-numbered year, shall notify eligible institutions of the conditions with which applicants for designation as a state depository must comply. The comptroller shall keep on file in the comptroller’s office and make available for inspection by any person a list of institutions to which notification has been sent.

(b)

The application for designation as a state depository must include a statement:

(1)

of the amount of the applicant’s paid capital stock and permanent surplus, if any;

(2)

of the maximum amount of state time deposits the applicant will accept;

(3)

of the applicant’s condition according to the most recent financial statement on the date the application is submitted; and

(4)

that the books and accounts of the institution, if it is designated as a state depository, will be open at all times for inspection by the comptroller or a representative of the comptroller.

(c)

An application shall be mailed or electronically submitted to the comptroller at Austin and must be received before noon on the first business day of August of the year in which the notification is sent. An application received after that time may be considered at the option of the comptroller. The comptroller may charge a processing fee of $25 for each application and shall deposit the fees to the credit of the general revenue fund. The comptroller may specify the format required for electronic submissions and may adopt rules to administer this section.

(d)

The comptroller shall prepare a list of the names of the applicants and the amount for which each has applied.

(e)

The comptroller may approve those applicants that are acceptable and may reject those whose management or condition, in the opinion of the comptroller, does not warrant the placing of state funds in their possession.

(f)

The designation as a state depository is effective for a period of not more than two years.

(g)

As soon as practicable after the comptroller has made its designations, the comptroller shall inform applicants whether they have been designated as state depositories.

(h)

The comptroller may execute a simplified version of a depository agreement with an eligible institution desiring to hold state deposits that are fully insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1995, 74th Leg., ch. 426, Sec. 3, eff. June 9, 1995; Acts 1997, 75th Leg., ch. 891, Sec. 3.06, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1423, Sec. 7.30, eff. Sept. 1, 1997; Acts 1999, 76th Leg., ch. 847, Sec. 2, eff. Sept. 1, 1999.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 16.02, eff. September 28, 2011.
Acts 2023, 88th Leg., R.S., Ch. 578 (H.B. 2674), Sec. 1, eff. June 11, 2023.

Source: Section 404.022 — Applications, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­404.­htm#404.­022 (accessed Jun. 5, 2024).

404.001
Definitions
404.0011
Transfer of Treasurer’s Powers and Duties
404.013
Rules
404.021
Eligible Institutions
404.022
Applications
404.023
Designation
404.024
Authorized Investments
404.026
Eleemosynary Funds
404.027
Liquidity
404.028
Investment Advisory Board
404.031
Collateral Requirements
404.032
Deposits
404.033
Withdrawals and Remittances
404.041
Trustee
404.043
Security Officers
404.045
Receipt of Money
404.046
Payment from Treasury
404.047
Accounts
404.048
Report
404.049
Money in Treasury
404.050
Delivery to Successor
404.051
Money Returned to County or Municipality
404.052
Obligations of Municipalities, Districts, and Political Subdivisions
404.054
Daily Totals
404.055
Time and Demand Deposits
404.056
Information Concerning Warrants
404.057
Warrants Payable Accounts
404.058
Outstanding Warrants
404.059
General Ledger Accounts
404.060
Priority of Warrants
404.062
Undetermined Remittances
404.063
Violation
404.064
Office Fees
404.065
Cash Balancing
404.066
Ledger
404.067
Safekeeping
404.068
State Regulatory Agencies Safekeeping and Pledged Collateral
404.069
Trust Funds
404.070
Validity of Voided Warrants
404.071
Disposition of Interest on Investments
404.072
Examination by State Auditor
404.073
Funds Outside Treasury
404.091
Short Title
404.092
Definition
404.093
Applicability of Subchapter
404.094
Funds to Be Deposited in Treasury
404.095
Electronic Transfer of Certain Payments
404.096
Rapid Deposits, Transactions, and Transfers Required
404.097
Deposit of Funds Recovered by Litigation or Settlement
404.101
Definitions
404.102
Creation of Trust Company
404.103
Powers
404.104
Duties of Comptroller
404.105
Capital or Reserve
404.106
Earnings
404.107
Fees
404.108
Trust Company Investment Advisory Board
404.109
Restrictions on Advisory Board Appointment, Membership, and Employment
404.110
Removal of Advisory Board Members
404.111
Advisory Board Member Training
404.112
Compensation
404.113
Meetings
404.114
Investment Management
404.115
Personnel
404.116
Liability Insurance for Certain Board Members, Officials, and Staff
404.121
Definitions
404.122
Cash Management Committee
404.123
Notes Authorized
404.124
Shortfall Forecast
404.125
Issuance of Notes
404.126
Fund Transfers
404.0211
Conflict of Interest
404.0212
Depository Rating Under Certain Federal Law
404.0221
Eligible Collateral
404.0241
Investment of Certain Economic Stabilization Fund Balances
404.0245
Crude Oil and Natural Gas Futures Contracts

Accessed:
Jun. 5, 2024

§ 404.022’s source at texas​.gov