1. (a) Any fees or assessments imposed by state law for the incorporation, regulation, or operation of trust companies do not apply to the Texas Treasury Safekeeping Trust Company.

2. (b) A participant that has money or securities on deposit with the trust company shall pay the fees provided in the trust company's fee schedule developed under Section 404.103(f). The trust company may:

   1. (1) deduct a fee from the principal or earning of a participant on deposit with the trust company; or
   2. (2) require a participant to pay a fee from an amount not on deposit with the trust company.

Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.

Amended by Acts 2001, 77th Leg., ch. 1158, Sec. 26, eff. June 15, 2001;

Acts 2003, 78th Leg., ch. 1310, Sec. 27, eff. June 20, 2003.