Texas § GV.2257.045 - RECEIPT OF SECURITY BY CUSTODIAN
Full text of Texas The Texas Constitution § GV.2257.045 — RECEIPT OF SECURITY BY CUSTODIAN, with citation guidance and answers to common questions.
§ GV.2257.045. RECEIPT OF SECURITY BY CUSTODIAN
RECEIPT OF SECURITY BY CUSTODIAN. (a) On receipt of an investment security, a custodian shall immediately identify on its books and records, by book entry or another method, the pledge of the security to the public entity. (b) For a deposit of public funds under Subchapter F, the custodian shall issue and deliver to the comptroller a trust receipt for the pledged security. (c) For any other deposit of public funds under this chapter, at the written direction of the appropriate public entity officer, the custodian shall: (1) issue and deliver to the appropriate public entity officer a trust receipt for the pledged security; or (2) issue and deliver a trust receipt for the pledged security to the public entity's depository and instruct the depository to deliver the trust receipt to the public entity officer immediately. (d) The custodian shall issue and deliver the trust receipt as soon as practicable on the same business day on which the investment security is received. Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 434 (S.B. 581 ), Sec. 1, eff. June 14, 2013.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.2257.045
What does The Texas Constitution § GV.2257.045 cover?
Section GV.2257.045 ("RECEIPT OF SECURITY BY CUSTODIAN") 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.2257.045?
A common citation format is "The Texas Constitution § GV.2257.045" (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.2257.045 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.