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Tex. Local Government Code § 105.054

SURRENDER OF INTEREST ON SECURITIES

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 105.054, SURRENDER OF INTEREST ON SECURITIES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/689013
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Except as provided for in the collateral policies of the municipality adopted in accordance with Chapter 2257, Government Code, on request of a municipal depository, the municipality shall surrender, when due, interest coupons or other evidence of interest on securities deposited by the depository with the governing body if the securities remaining pledged by the depository are adequate to meet the requirements of this chapter and of the governing body.