Texas § GV.2116.005 - DEPOSITS AND DEPOSITORY ACCOUNTS
Full text of Texas The Texas Constitution § GV.2116.005 — DEPOSITS AND DEPOSITORY ACCOUNTS, with citation guidance and answers to common questions.
§ GV.2116.005. DEPOSITS AND DEPOSITORY ACCOUNTS
DEPOSITS AND DEPOSITORY ACCOUNTS; STANDARDS. (a) The depository may receive a deposit of bullion or specie from or on behalf of a person acting in the person's own right, as trustee, or in another fiduciary capacity, in accordance with rules adopted by the comptroller as appropriate to: (1) ensure compliance with law; and (2) protect the interests of: (A) the depository; (B) depository account holders; (C) this state and the agencies, political subdivisions, and instrumentalities of this state; and (D) the public at large. (b) The depository shall record the amount of precious metals a person deposits, regardless of form, in units of troy ounces pure, and the records must also specify the type and quantity of each precious metal deposited. (c) The comptroller shall adopt standards by which the quantities of precious metals deposited are credited to a depositor's depository account by reference to the particular form in which the metals were deposited, classified by mint, denomination, weight, assay mark, or other indicator, as applicable. The standards must conform to applicable national and international standards of weights and measures. (d) The comptroller may, if the comptroller determines that to do so is in the public interest, restrict the forms in which deposits of precious metals may be made. (e) The depository shall adjust each depository account balance to reflect additions to or withdrawals or deliveries from the account. Added by Acts 2015, 84th Leg., R.S., Ch. 1000 (H.B. 483 ), Sec. 1, eff. June 19, 2015. Amended by: Acts 2019, 86th Leg., R.S., Ch. 198 (H.B. 2458 ), Sec. 12, eff. May 24, 2019.
Frequently Asked Questions About Texas § GV.2116.005
What does The Texas Constitution § GV.2116.005 cover?
Section GV.2116.005 ("DEPOSITS AND DEPOSITORY ACCOUNTS") 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.2116.005?
A common citation format is "The Texas Constitution § GV.2116.005" (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.2116.005 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.