Texas § 2024.052 SECURITY.

Texas Statutes

§ 2024.052 — SECURITY.

Texas § 2024.052

Code OCOccupations Code

This text of Texas § 2024.052 (SECURITY.) 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. Occupations Code Code Ann. § 2024.052 (2026).

Text

Sec. 2024.052. SECURITY.

(a)The comptroller by rule may require each racetrack association to post security in an amount estimated to be sufficient to cover the amount of state money that the racetrack association will collect and hold between bank deposits to ensure payment of the state's share of a pari-mutuel pool.

(b)The following are acceptable as security for purposes of this section:

(1)cash;

(2)a cashier's check;

(3)a surety bond;

(4)an irrevocable bank letter of credit;

(5)a United States Treasury bond that is readily convertible to cash; or

(6)an irrevocable assignment of a federally insured account in a bank, savings and loan institution, or credit union.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 2024.052. SECURITY. (a) The comptroller by rule may require each racetrack association to post security in an amount estimated to be sufficient to cover the amount of state money that the racetrack association will collect and hold between bank deposits to ensure payment of the state's share of a pari-mutuel pool.
(b) The following are acceptable as security for purposes of this section:
(1) cash;
(2) a cashier's check;
(3) a surety bond;
(4) an irrevocable bank letter of credit;
(5) a United States Treasury bond that is readily convertible to cash; or
(6) an irrevocable assignment of a federally insured account in a bank, savings and loan institution, or credit union.