Texas § 1207.027 COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS.

Texas Statutes

§ 1207.027 — COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS.

Texas § 1207.027

Code GVGovernment Code

This text of Texas § 1207.027 (COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 1207.027 (2026).

Text

Sec. 1207.027. COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS.

(a)The comptroller shall:

(1)accept each deposit, payment, or instrument received under this subchapter; and

(2)safely keep and use the money only for a purpose specified in this subchapter.

(b)Money deposited with the comptroller under this subchapter may not be:

(1)used by or for the benefit of this state or for the benefit of a creditor of this state, except as provided by Section 1207.032 ; or

(2)commingled with other money.

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Sec. 1207.027. COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS. (a) The comptroller shall:
(1) accept each deposit, payment, or instrument received under this subchapter; and
(2) safely keep and use the money only for a purpose specified in this subchapter.
(b) Money deposited with the comptroller under this subchapter may not be:
(1) used by or for the benefit of this state or for the benefit of a creditor of this state, except as provided by Section 1207.032 ; or
(2) commingled with other money.