Texas § GV.2256.053 - PAYMENT FOR SECURITIES PURCHASED BY STATE
Full text of Texas The Texas Constitution § GV.2256.053 — PAYMENT FOR SECURITIES PURCHASED BY STATE, with citation guidance and answers to common questions.
§ GV.2256.053. PAYMENT FOR SECURITIES PURCHASED BY STATE
PAYMENT FOR SECURITIES PURCHASED BY STATE. The comptroller or the disbursing officer of an agency that has the power to invest assets directly may pay for authorized securities purchased from or through a member in good standing of the National Association of Securities Dealers or from or through a national or state bank on receiving an invoice from the seller of the securities showing that the securities have been purchased by the board or agency and that the amount to be paid for the securities is just, due, and unpaid. A purchase of securities may not be made at a price that exceeds the existing market value of the securities. Added by Acts 1993, 73rd Leg., R.S., Ch. 268 (S.B. 248 ), Sec. 1, eff. September 1, 1993. Amended by: Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995. Acts 1997, 75th Leg., ch. 1423, Sec. 8.67, eff. Sept. 1, 1997.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.2256.053
What does The Texas Constitution § GV.2256.053 cover?
Section GV.2256.053 ("PAYMENT FOR SECURITIES PURCHASED BY STATE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.2256.053?
A common citation format is "The Texas Constitution § GV.2256.053" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.2256.053 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.