Law:Title 9. Public Securities. Subtitle D. Provisions Applicable To Securities Issued By Counties from Chapter 1302. Destruction Of County Security (Texas)

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Subtitle D. Provisions Applicable To Securities Issued By Counties

Contents

Chapter 1302. Destruction Of County Security

Section  1302.001.  Definition.

In this chapter, "county security" means a certificate, bond, interest coupon, or other evidence of indebtedness issued by a county.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1302.002.  Authorization.

The commissioners court of a county may contract with the county's depository or another entity that acts as the registrar or paying agent for a county security issued by the county for the destruction of a county security that has been issued and paid by the county.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1302.003.  Limitation.

A contract under Section 1302.002 may not authorize the destruction of a county security before:

(1)  the first anniversary of the date the county security is paid; or

(2)  the end of the third month after the date the depository, registrar, or paying agent files a list identifying the county security to be destroyed with the commissioners court or county treasurer.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.


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