Tex. Gov't Code § 2257.044

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 2257.044 - Custodian As Bailee

(a) A custodian under this chapter or a custodian of a security pledged to an institution of higher education, as defined by Section 61.003, Education Code, whether acting alone or through a permitted institution, is for all purposes the bailee or agent of the public entity or institution depositing the public funds with the depository.

(b) To the extent of any conflict, Subsection (a) prevails over Chapter 8 or 9, Business & Commerce Code.

Tex. Gov't. Code § 2257.044

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. 9/1/1993.