At the direction of the comptroller or the agency, a security purchased under this chapter may be deposited in trust with a bank or federal reserve bank or branch designated by the comptroller, whether in or outside the state. The deposit shall be held in the entity's name as evidenced by a trust receipt of the bank with which the securities are deposited.

Added by Acts 1993, 73rd Leg., R.S., Ch. 268 (S.B. 248), Sec. 1, eff. September 1, 1993.

Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.

Acts 1997, 75th Leg., ch. 1423, Sec. 8.69, eff. Sept. 1, 1997.