Texas § GV.2257.042 - DEPOSIT OF SECURITIES WITH PERMITTED INSTITUTION
Full text of Texas The Texas Constitution § GV.2257.042 — DEPOSIT OF SECURITIES WITH PERMITTED INSTITUTION, with citation guidance and answers to common questions.
§ GV.2257.042. DEPOSIT OF SECURITIES WITH PERMITTED INSTITUTION
DEPOSIT OF SECURITIES WITH PERMITTED INSTITUTION. (a) A custodian may deposit with a permitted institution an investment security the custodian holds under Section 2257.041 . (b) If a deposit is made under Subsection (a): (1) the permitted institution shall hold the investment security to secure funds the public entity deposits in the depository that pledges the investment security; (2) the trust receipt the custodian issues under Section 2257.045 shall show that the custodian has deposited the security in a permitted institution; and (3) the permitted institution, on receipt of the investment security, shall immediately issue to the custodian an advice of transaction or other document that is evidence that the custodian deposited the security in the permitted institution. Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.2257.042
What does The Texas Constitution § GV.2257.042 cover?
Section GV.2257.042 ("DEPOSIT OF SECURITIES WITH PERMITTED INSTITUTION") 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.2257.042?
A common citation format is "The Texas Constitution § GV.2257.042" (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.2257.042 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.