Tex. Nat. Resources Code Section 162.0041
Custody and Investment of Assets Pending Transactions

With the approval of the comptroller, the board, in managing the assets of the fund, pending the completion of an investment transaction, may:

(1)

select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the cash or securities of the fund; and

(2)

authorize the custodian to invest cash held under Subdivision (1) in the investments determined by the board.
Added by Acts 1997, 75th Leg., ch. 71, Sec. 4, eff. May 9, 1997.

Source: Section 162.0041 — Custody and Investment of Assets Pending Transactions, https://statutes.­capitol.­texas.­gov/Docs/NR/htm/NR.­162.­htm#162.­0041 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 162.0041’s source at texas​.gov