Texas § 162.0041 CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.

Texas Statutes

§ 162.0041 — CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.

Texas § 162.0041

Code NRNatural Resources Code

This text of Texas § 162.0041 (CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS.) 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. Natural Resources Code Code Ann. § 162.0041 (2026).

Text

Sec. 162.0041. CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS. With the approval of the comptroller, the board, in managing the assets of the fund, pending the completion of an investment transaction, may:

(1)select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the cash or securities of the fund; and

(2)authorize the custodian to invest cash held under Subdivision (1) in the investments determined by the board.

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Sec. 162.0041. CUSTODY AND INVESTMENT OF ASSETS PENDING TRANSACTIONS. With the approval of the comptroller, the board, in managing the assets of the fund, pending the completion of an investment transaction, may:
(1) select one or more commercial banks, depository trust companies, or other entities to serve as a custodian of the cash or securities of the fund; and
(2) authorize the custodian to invest cash held under Subdivision (1) in the investments determined by the board.