Tex. Gov't Code § 404.069

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

Section 404.069 - Trust Funds

(a) All money and securities deposited with the comptroller in trust for any legal purpose may be received by the comptroller as provided by Section 403.052. The money or securities shall be held in trust by the comptroller in the same manner as the departmental suspense account. Except as provided by Section 403.0271, the money may be withdrawn only on a warrant drawn or an electronic funds transfer initiated by the comptroller. The securities may be withdrawn only by withdrawal authorization.

(b) Money received in trust or for any legal purpose that is placed in a suspense account or fund shall be handled by the comptroller in the same manner as items deposited in the departmental suspense account.

(c) Adequate registers, ledgers, and files shall be maintained by the comptroller to account for the receiving and disposing of trust and suspense money and securities. Those registers, ledgers, and files shall be known as the trust and suspense record.

Tex. Gov't. Code § 404.069

Amended By Acts 1999, 76th Leg., ch. 1467, Sec. 1.21, eff. 6/19/1999.

Amended By Acts 1997, 75th Leg., ch. 1423, Sec. 7.64, eff. 9/1/1997

Amended by Acts 1989, 71st Leg., ch. 207, Sec. 31, eff. 9/1/1989

Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. 9/1/1987.