Tex. Gov't Code § 1207.027

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

Section 1207.027 - Comptroller to Accept and Keep Safe Deposits

(a) The comptroller shall:

(1) accept each deposit, payment, or instrument received under this subchapter; and

(2) safely keep and use the money only for a purpose specified in this subchapter.

(b) Money deposited with the comptroller under this subchapter may not be:

(1) used by or for the benefit of this state or for the benefit of a creditor of this state, except as provided by Section 1207.032; or

(2) commingled with other money.

Tex. Gov't. Code § 1207.027

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.