Texas § GV.2257.102 - POOLED COLLATERAL PROGRAM
Full text of Texas The Texas Constitution § GV.2257.102 — POOLED COLLATERAL PROGRAM, with citation guidance and answers to common questions.
§ GV.2257.102. POOLED COLLATERAL PROGRAM
POOLED COLLATERAL PROGRAM. (a) As an alternative to collateralization under Subchapter B, the comptroller by rule shall establish a program for centralized pooled collateralization of deposits of public funds and for monitoring collateral maintained by participating institutions. The rules must provide that deposits of public funds of a county are not eligible for collateralization under the program. The comptroller shall provide for a separate collateral pool for any single participating institution's deposits of public funds. (b) Under the pooled collateral program, the collateral of a participating institution pledged for a public deposit may not be combined with, cross-collateralized with, aggregated with, or pledged to another participating institution's collateral pools for pledging purposes. (c) A participating institution may pledge its pooled securities to more than one participating depositor under contract with that participating institution. (d) The pooled collateral program must provide for: (1) participation in the program by a participating institution and each affected public entity to be voluntary; (2) uniform procedures for processing all collateral transactions that are subject to an approved security agreement described by Section 2257.103 ; and (3) the pledging of a participating institution's collateral securities using a single custodial account instead of an account for each depositor of public funds. Added by Acts 2009, 81st Leg., R.S., Ch. 486 (S.B. 638 ), Sec. 1, eff. September 1, 2009.
Frequently Asked Questions About Texas § GV.2257.102
What does The Texas Constitution § GV.2257.102 cover?
Section GV.2257.102 ("POOLED COLLATERAL PROGRAM") 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.2257.102?
A common citation format is "The Texas Constitution § GV.2257.102" (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.2257.102 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.