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CHAPTER 742 H.B. No. 3312 1 AN ACT 2 relating to substitution of securities by a depository for a 3 county. 4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 5 SECTION 1. Section 116.082(a), Local Government Code, is 6 amended to read as follows: 7 (a) After reasonable notice to the commissioners court, a 8 depository is entitled to substitute one type of security for 9 another or replace particular securities with others of the same 10 type if the substituting or replacing security meets the 11 requirements of law and is approved by the commissioners court. 12 Instead of approval of each substitute or replacement security by 13 the commissioners court, the commissioners court may: 14 (1) adopt a procedure for approving a substitute or 15 replacement security under this section; and 16 (2) designate a county employee or official, including 17 a county judge, to approve the substitute or replacement security 18 under the procedure adopted under Subdivision (1). 19 SECTION 2. This Act takes effect immediately if it receives 20 a vote of two-thirds of all the members elected to each house, as 21 provided by Section 39, Article III, Texas Constitution. If this 22 Act does not receive the vote necessary for immediate effect, this 23 Act takes effect September 1, 2003.
Reference the current page of this Legislative Document.
Texas. Legislature. House of Representatives.78th Texas Legislature, Regular Session, House Bill 3312, Chapter 742,
legislative document,
2003-05/2003-06;
[Austin, Texas].
(https://texashistory.unt.edu/ark:/67531/metapth158625/m1/1/:
accessed May 5, 2024),
University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu;
crediting UNT Libraries Government Documents Department.