Texas § 1207.031 WITHDRAWAL OF DEPOSIT.

Texas Statutes

§ 1207.031 — WITHDRAWAL OF DEPOSIT.

Texas § 1207.031

Code GVGovernment Code

This text of Texas § 1207.031 (WITHDRAWAL OF DEPOSIT.) 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. § 1207.031 (2026).

Text

Sec. 1207.031. WITHDRAWAL OF DEPOSIT.

(a)An issuer that has made the deposit and payments required by this subchapter may apply to the comptroller to withdraw from the paying agent the amount of money deposited to the credit of the account of an obligation that has been refunded, including interest and premium, if any, by exhibiting the canceled obligation to the comptroller. The comptroller shall make a proper record of payment and cancellation of that obligation.

(b)An issuer may withdraw money deposited under this subchapter only if:

(1)the conditions stated in Subsection (a) are met; or

(2)the attorney general certifies to the comptroller that the issuer's payment of the obligation as to which the deposit was made is barred by limitation and forbidden by law.

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Sec. 1207.031. WITHDRAWAL OF DEPOSIT. (a) An issuer that has made the deposit and payments required by this subchapter may apply to the comptroller to withdraw from the paying agent the amount of money deposited to the credit of the account of an obligation that has been refunded, including interest and premium, if any, by exhibiting the canceled obligation to the comptroller. The comptroller shall make a proper record of payment and cancellation of that obligation.
(b) An issuer may withdraw money deposited under this subchapter only if:
(1) the conditions stated in Subsection (a) are met; or
(2) the attorney general certifies to the comptroller that the issuer's payment of the obligation as to which the deposit was made is barred by limitation and forbidden by law.