Texas § 1201.067 EXCEPTION TO APPROVAL REQUIREMENT.

Texas Statutes

§ 1201.067 — EXCEPTION TO APPROVAL REQUIREMENT.

Texas § 1201.067

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 1201.067 (2026).

Text

Sec. 1201.067. EXCEPTION TO APPROVAL REQUIREMENT.

(a)If the duty to convert or reconvert a public security or interest coupon or to transfer or exchange a public security is imposed on a corporate trustee under a trust agreement or indenture securing the public security or on a paying agent for the public security, the attorney general is not required to approve and the comptroller is not required to register:

(1)the converted or reconverted public security or interest coupon; or

(2)the public security delivered on transfer or exchange of the previously issued public security.

(b)A converted or reconverted public security or interest coupon, or a transferred or exchanged public security, is valid and incontestable in the same manner and with the same effect as the previously issued pub

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Sec. 1201.067. EXCEPTION TO APPROVAL REQUIREMENT. (a) If the duty to convert or reconvert a public security or interest coupon or to transfer or exchange a public security is imposed on a corporate trustee under a trust agreement or indenture securing the public security or on a paying agent for the public security, the attorney general is not required to approve and the comptroller is not required to register:
(1) the converted or reconverted public security or interest coupon; or
(2) the public security delivered on transfer or exchange of the previously issued public security.
(b) A converted or reconverted public security or interest coupon, or a transferred or exchanged public security, is valid and incontestable in the same manner and with the same effect as the previously issued public security.