1. (a) The comptroller shall register and deliver a new public security after:

   1. (1) approval of the new public security by the attorney general; and
   2. (2) the surrender to and the cancellation by the comptroller of each changed or converted public security.
2. (b) On registration the new public security is valid and incontestable for all purposes.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.