As part of an audit or regulatory examination of a public entity's depository or custodian, the auditor or examiner shall:

1. (1) examine and verify pledged investment securities and records maintained under Section 2257.025 or 2257.046; and
2. (2) report any significant or material noncompliance with this chapter to the comptroller.

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.

Amended by Acts 1997, 75th Leg., ch. 891, Sec. 3.19, eff. Sept. 1, 1997.