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Tex. Government Code § 1207.027

COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS

Texas · Texas Government Code · Status: effective

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Tex. Government Code § 1207.027, COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/660233
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(a) The comptroller shall: (1) accept each deposit, payment, or instrument received under this subchapter; and (2) safely keep and use the money only for a purpose specified in this subchapter. (b) Money deposited with the comptroller under this subchapter may not be: (1) used by or for the benefit of this state or for the benefit of a creditor of this state, except as provided by Section 1207.032; or (2) commingled with other money.