Tex. Gov't Code § 404.104

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

Section 404.104 - Duties of Comptroller

(a) The comptroller is the sole officer, director, and shareholder of the trust company. The comptroller's office shall manage the trust company.

(b) The comptroller may enter into contracts, trust agreements, and other instruments with the trust company as provided by Section 404.103.

(c) The comptroller shall submit to the Legislative Budget Board an audited report regarding the operations of the trust company. The trust company may contract with a certified public accountant or the state auditor to conduct an independent audit of the operations of the trust company. This subsection does not affect the state auditor's authority to conduct an audit of the trust company in accordance with Chapter 321.

Tex. Gov't. Code § 404.104

Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 620,Sec. 2, eff. 6/10/2019.

Amended By Acts 2001, 77th Leg., ch. 1158, Sec. 23, eff. 6/15/2001.

Amended By Acts 1997, 75th Leg., ch. 1423, Sec. 7.74, eff. 9/1/1997

Amended by Acts 1989, 71st Leg., ch. 584, Sec. 12, eff. 9/1/1989

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