reglab/statecodes huggingface dataset:
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.0211. Conflict of Interest

Sec. 404.0211.  CONFLICT OF INTEREST.  A bank is not disqualified from serving as a depository for funds of a state agency if:
(1)  an officer or employee of the agency who does not have the duty to select the agency's depository is an officer, director, or shareholder of the bank;  or
(2)  one or more officers or employees of the agency who have the duty to select the agency's depository are officers or directors of the bank or own or have a beneficial interest, individually or collectively, in 10 percent or less of the outstanding capital stock of the bank, if:
(A)  a majority of the members of the board, commission, or other body of the agency vote to select the bank as a depository;  and
(B)  the interested officer or employee does not vote or take part in the proceedings.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 19, eff. Sept. 1, 1993.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.0212. Depository Rating Under Certain Federal Law

Sec. 404.0212.  DEPOSITORY RATING UNDER CERTAIN FEDERAL LAW.  (a)  In this section, "regulated financial institution" has the meaning assigned by 12 U.S.C. Section 2902.
(b)  A regulated financial institution that accepts a deposit from the comptroller shall report to the comptroller the rating assigned to the financial institution under 12 U.S.C. Section 2906.
(c)  A regulated financial institution shall make a report required by this section:
(1)  annually, not later than August 1 of each year;  and
(2)  not later than the 30th day after the date the financial institution is notified that the assigned rating has been changed.
(d)  The comptroller may not select as a depository a regulated financial institution for which the entire institution has been assigned a rating below "outstanding record of meeting community credit needs" or "satisfactory record of meeting community credit needs" under 12 U.S.C. Section 2906.  However, the comptroller shall establish criteria to determine whether a financial institution doing business in this state and other states has a satisfactory record of meeting community credit needs in this state.
(e)  On receipt of notice that the rating of a financial institution is changed to a rating below that required by this section, the comptroller shall take immediate action to transfer all state funds subject to the custody or control of the comptroller that are on deposit with the institution to a qualified financial institution.
(f)  The depository contract between a regulated financial institution and the comptroller must authorize the withdrawal without penalty of the state funds subject to the custody or control of the comptroller that are on deposit with the institution if the rating of the institution is changed to a rating below that required by Subsection (d).
Added by Acts 1995, 74th Leg., ch. 426, Sec. 2, eff. June 9, 1995.  Amended by Acts 1997, 75th Leg., ch. 891, Sec. 3.05, eff. Sept. 1, 1997;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.29, eff. Sept. 1, 1997;  Acts 1999, 76th Leg., ch. 847, Sec. 1, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.022. Applications

Sec. 404.022.  APPLICATIONS.  (a)  The comptroller, not later than the first business day in May of each odd-numbered year, shall notify eligible institutions of the conditions with which applicants for designation as a state depository must comply.  The comptroller shall keep on file in the comptroller's office and make available for inspection by any person a list of institutions to which notification has been sent.
(b)  The application for designation as a state depository must include a statement:
(1)  of the amount of the applicant's paid capital stock and permanent surplus, if any;
(2)  of the maximum amount of state time deposits the applicant will accept;
(3)  of the applicant's condition according to the most recent financial statement on the date the application is submitted;  and
(4)  that the books and accounts of the institution, if it is designated as a state depository, will be open at all times for inspection by the comptroller or a representative of the comptroller.
(c)  An application shall be mailed or electronically submitted to the comptroller at Austin and must be received before noon on the first business day of August of the year in which the notification is sent.  An application received after that time may be considered at the option of the comptroller.  The comptroller may charge a processing fee of $25 for each application and shall deposit the fees to the credit of the general revenue fund.  The comptroller may specify the format required for electronic submissions and may adopt rules to administer this section.
(d)   The comptroller shall prepare a list of the names of the applicants and the amount for which each has applied.
(e)  The comptroller may approve those applicants that are acceptable and may reject those whose management or condition, in the opinion of the comptroller, does not warrant the placing of state funds in their possession.
(f)  The designation as a state depository is effective for a period of not more than two years.
(g)  As soon as practicable after the comptroller has made its designations, the comptroller shall inform applicants whether they have been designated as state depositories.
(h)  The comptroller may execute a simplified version of a depository agreement with an eligible institution desiring to hold state deposits that are fully insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 426, Sec. 3, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 891, Sec. 3.06, eff. Sept. 1, 1997;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.30, eff. Sept. 1, 1997;  Acts 1999, 76th Leg., ch. 847, Sec. 2, eff. Sept. 1, 1999.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 16.02, eff. September 28, 2011.
Acts 2023, 88th Leg., R.S., Ch. 578 (H.B. 2674), Sec. 1, eff. June 11, 2023.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.0221. Eligible Collateral

Sec. 404.0221.  ELIGIBLE COLLATERAL.  (a)  In this section, "public agency" means a board, authority, agency, department, commission, political subdivision, municipal corporation, district, public corporation, body politic, instrumentality of this state, or any other type of political or governmental entity of this state.
(b)  For the purposes of Section 404.022, collateral eligible to be pledged with the comptroller to secure state deposits includes:
(1)  direct obligations of or obligations the principal and interest of which are guaranteed by the United States government;
(2)  direct obligations of or obligations guaranteed by agencies or instrumentalities of the United States government, including letters of credit;  and
(3)  a general or special obligation issued by a public agency and approved by the attorney general that is payable from taxes, revenues, or both.
(c)  If pledged collateral consists of securities with a declining principal balance, the market value of the collateral pledged may not be less than 125 percent of the amount of the state deposits to be secured.
(d)  Eligible collateral includes only:
(1)  a security with fixed, stated rates;  or
(2)  a letter of credit described by Subsection (b)(2) for a stated amount.
(e)  A loss sustained by a depository that has secured its deposits by collateral may be enforced against the collateral.
(f)  The comptroller may reject at any time collateral tendered by a state depository without assigning a reason for the rejection, and the comptroller's action is final and not subject to review.
(g)  Collateral is not required for deposits to the extent that the deposits are insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Added by Acts 1995, 74th Leg., ch. 426, Sec. 4, eff. June 9, 1995.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 7.31, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 159, Sec. 1, eff. Sept. 1, 2003.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.023. Designation

Sec. 404.023.  DESIGNATION.  The comptroller shall designate one or more state depository banks that have main offices or branches in centrally located cities in this state to be used for clearing checks and other obligations due the state.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 891, Sec. 3.07, eff. Sept. 1, 1997;  Acts 1999, 76th Leg., ch. 344, Sec. 5.003, eff. Sept. 1, 1999;  Acts 1999, 76th Leg., ch. 847, Sec. 3, eff. Sept. 1, 1999.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.0245. Crude Oil and Natural Gas Futures Contracts

Sec. 404.0245.  CRUDE OIL AND NATURAL GAS FUTURES CONTRACTS.  (a)  In this section, "hedging" means the buying and selling of crude oil and natural gas commodity futures or options on crude oil and natural gas commodity futures as a protection against loss due to price fluctuations.  Hedging at all times shall comply with Commodity Futures Trading Commission regulations.
(b)  Subject to the limitations of Subsection (c), the comptroller may determine and designate the amount of state funds that shall be invested by the comptroller in hedging transactions in crude oil and natural gas futures contracts and options on crude oil and natural gas futures contracts that are traded on an established exchange regulated by the Securities and Exchange Commission or the Commodity Futures Trading Commission.
(c)  The principal amount of state funds invested and outstanding in hedging transactions on any one day may not exceed $500,000 with a maximum risk of loss of $5,000,000 in a biennium.  The total principal amount of state funds that may be invested by the comptroller in hedging transactions during any one biennium may not exceed the amount of money credited to the unclaimed money fund for that biennium and attributable to the remittance of mineral proceeds under Chapter 75, Property Code.  Any premium incurred in connection with hedging transactions may be paid only from funds appropriated for that purpose.
(d)  The comptroller shall invest state funds in crude oil and natural gas futures contracts or options on crude oil and natural gas futures contracts under the restrictions and procedures for making investments that persons of ordinary prudence, discretion, and intelligence, exercising the judgment and care under the circumstances then prevailing, would follow in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.  The investments may be made only for hedging purposes.
(e), (f) Repealed by Acts 1995, 74th Leg., ch. 426, Sec. 32, eff. June 9, 1995.
Added by Acts 1991, 72nd Leg., ch. 871, Sec. 1, eff. June 16, 1991.  Amended by Acts 1993, 73rd Leg., ch. 939, Sec. 4, eff. Aug. 30, 1993;  Acts 1995, 74th Leg., ch. 426, Sec. 6, 32, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 891, Sec. 3.09, eff. Sept. 1, 1997;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.33, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.026. Eleemosynary Funds

Sec. 404.026.  ELEEMOSYNARY FUNDS.  The comptroller may invest the permanent funds of the Texas School for the Blind and Visually Impaired, Texas School for the Deaf, Austin State Hospital, and Corsicana State Home and may invest other permanent funds, the investment of which is not otherwise provided for, that have $1,000 or more on deposit with the comptroller that are not invested.  The comptroller shall invest the funds in the same classes of bonds as are authorized for investment of the permanent school fund.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 247, Sec. 15, eff. June 14, 1989;  Acts 1997, 75th Leg., ch. 891, Sec. 3.10, eff. Sept. 1, 1997;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.34, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.027. Liquidity

Sec. 404.027.  LIQUIDITY.  (a)  The comptroller may enter into credit agreements or other similar agreements to provide liquidity for obligations issued for governmental purposes by an agency of the state if the agreements do not conflict with the liquidity needs of the treasury.  An agency may enter into a credit agreement with the comptroller on the issuance of obligations or at a later date as agreed to by the comptroller and the agency.
(b)  The comptroller may charge reasonable costs to provide services under this section.
(c)  In this section:
(1)  "Credit agreement" has the meaning assigned by Section 1371.001.
(2)  "Obligations" include commercial paper, variable rate demand obligations, and "public securities" as defined by Section 1201.002.
Added by Acts 1993, 73rd Leg., ch. 939, Sec. 5, eff. Aug. 30, 1993.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 7.35, eff. Sept. 1, 1997;  Acts 2001, 77th Leg., ch. 1420, Sec. 8.230, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter C. State Depositories and Investment of State Funds › Section 404.028. Investment Advisory Board

Sec. 404.028.  INVESTMENT ADVISORY BOARD.  (a)  The comptroller shall establish an investment advisory board to advise the comptroller regarding investments that the comptroller makes under this subchapter or other law.  For purposes of this section, the deposit of state funds in a state depository is not considered an investment.
(b)  The comptroller shall appoint members to the advisory board who possess the expertise appropriate for advising the comptroller with regard to one or more types of investments that the comptroller may make.
(c)  The comptroller shall determine the number of members of the advisory board.  A member serves on the advisory board at the will of the comptroller.
(d)  Chapter 2110 does not apply to the size, composition, or duration of the advisory board.
Added by Acts 2001, 77th Leg., ch. 282, Sec. 1, eff. Sept. 1, 2001.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter D. Collateral, Deposits, and Withdrawals › Section 404.032. Deposits

Sec. 404.032.  DEPOSITS.  (a)  The comptroller shall deposit state funds in depositories that satisfy the collateral requirements of this chapter.  The comptroller may deposit funds designated as demand deposits only in institutions designated as depositories by the comptroller.
(b)  The comptroller shall monitor the financial stability of state depositories in which state deposits are held and take appropriate action to protect state funds.
(c)  A state depository shall collect all checks, drafts, and demands for money deposited with it by the comptroller. If the depository uses due diligence, it is not liable for the collections until the proceeds of the collections are duly received by the depository bank.  An expense incurred in collection that the depository is not permitted to pay by reason of an Act of Congress or a rule or regulation adopted under such an Act by the board of governors of the Federal Reserve System or the board of directors of the Federal Deposit Insurance Corporation shall be charged to and paid by the comptroller out of money appropriated by the legislature for that purpose.
(d)  The comptroller shall keep sufficient money on deposit in demand deposit accounts in depositories designated by the comptroller as clearing institutions to meet all current claims on the state.  Items received by the comptroller for collection shall be deposited with a clearing institution to be credited to the demand deposit account in the depository.  Checks, drafts, or warrants drawn by the comptroller for the payment of obligations due by the state may be drawn on such an account in such a depository or on the demand deposit account in another state depository so that the checks, drafts, or warrants of the state may at all times pass current as cash.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1993, 73rd Leg., ch. 939, Sec. 6, eff. Aug. 30, 1993;  Acts 1995, 74th Leg., ch. 426, Sec. 10, 11, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 891, Sec. 3.11, eff. Sept. 1, 1997;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.37, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter D. Collateral, Deposits, and Withdrawals › Section 404.033. Withdrawals and Remittances

Sec. 404.033.  WITHDRAWALS AND REMITTANCES.  (a)  Funds on deposit with a depository are subject to withdrawal at any time by the comptroller, except funds designated as time deposits, which may be withdrawn in the manner agreed on in the contract under which the funds were deposited.  The depository shall remit the withdrawal on demand and free of charge, except charges that the depository is not permitted to pay by reason of an Act of Congress or a rule or regulation adopted under such an Act by the board of governors of the Federal Reserve System or the board of directors of the Federal Deposit Insurance Corporation.
(b)  A remittance to the comptroller by a state depository or another person may be made by any method authorized by the comptroller, including cash, money order, or bank draft.  The liability of the depository or other person making the remittance continues until the money is received by the comptroller. A depository that refuses to make a remittance required by this chapter forfeits its right to receive further deposits, on order of the comptroller. The comptroller may withdraw all funds from the depository, which after the withdrawal ceases to be a state depository.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 891, Sec. 3.12, eff. Sept. 1, 1997;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.38, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.041. Trustee

Sec. 404.041.  TRUSTEE.  The comptroller is the trustee of funds in the treasury.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 7.39, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.043. Security Officers

Sec. 404.043.  SECURITY OFFICERS.  The comptroller may employ security officers to provide needed security services for the treasury and may commission the officers as peace officers.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 426, Sec. 12, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.41, eff. Sept. 1, 1997;  Acts 2003, 78th Leg., ch. 285, Sec. 13, eff. Sept. 1, 2003.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.045. Receipt of Money

Sec. 404.045.  RECEIPT OF MONEY.  The comptroller shall receive all money paid into the treasury in accordance with the procedures required by Section 403.052.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 19, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.43, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.046. Payment From Treasury

Sec. 404.046.  PAYMENT FROM TREASURY.  The comptroller shall pay warrants the comptroller draws on the treasury that are authorized by law.  Except as provided by Section 403.0271, money may not be paid out of the treasury except on a warrant drawn or an electronic funds transfer initiated by the comptroller.  A warrant may not be paid by the comptroller unless presented for payment to a financial institution or the comptroller before two years after the close of the fiscal year in which the warrant was issued.  Claims for the payment of warrants presented after that time may be presented to the legislature for appropriations from which the claims may be paid.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 78, Sec. 5, eff. May 11, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.44, eff. Sept. 1, 1997;  Acts 1999, 76th Leg., ch. 1467, Sec. 1.20, eff. June 19, 1999.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.047. Accounts

Sec. 404.047.  ACCOUNTS.  The comptroller shall keep accounts of the receipt and expenditure of the money in the treasury and close the accounts on August 31 of each year.  The comptroller shall keep proper records, distinguishing between the receipts and disbursements of each fiscal year.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 426, Sec. 13, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.45, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.048. Report

Sec. 404.048.  REPORT.  In addition to the reports required by the constitution, the comptroller shall, as required by the governor, submit a statement of the balance of money remaining in the treasury and a summary of the receipts and disbursements recorded by the treasury.  The comptroller shall exhibit all books, papers, and records on request by the legislature or a branch or committee of the legislature.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 426, Sec. 14, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.46, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.049. Money in Treasury

Sec. 404.049.  MONEY IN TREASURY.  Money received by the comptroller as trustee of funds in the treasury shall be kept in the treasury.  The comptroller may not keep or receive into the treasury money, or the representative of money, belonging to an individual except as provided by law.  The comptroller may not appropriate to the comptroller's own use or lend, sell, or exchange money, or the representative of money, in the comptroller's custody or control.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 7.47, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.050. Delivery to Successor

Sec. 404.050.  DELIVERY TO SUCCESSOR.  The comptroller shall, at the close of the term of office, deliver into the possession of the successor comptroller the money, securities, and all other property of the state in the comptroller's possession and the books, vouchers, papers, evidences of property, and all other matters and things pertaining to the office.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 7.48, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.051. Money Returned to County or Municipality

Sec. 404.051.  MONEY RETURNED TO COUNTY OR MUNICIPALITY.  If money is in the treasury for the purpose of paying an obligation due from a county or municipality and the comptroller finds from certified copies of the records of the commissioners court or by other satisfactory evidence that the obligation is no longer outstanding against the county or municipality, the comptroller shall draw a warrant on the treasury in favor of the county or municipality for that amount of money and shall pay the money to the treasurer of the county or municipality for the benefit of its general fund.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 7.49, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.054. Daily Totals

Sec. 404.054.  DAILY TOTALS.  The comptroller shall post the daily totals of deposits to the proper fund and control accounts in the general ledger.  The comptroller shall keep a transit record, in which the comptroller shall record the essential details of cash, checks, money orders, drafts, or other items deposited or cashed each day, showing the items deposited in each depository bank or otherwise disposed of.  The totals of deposits shall be charged to the accounts of the respective depositories on the books of the treasury.  The comptroller shall keep a journal of all journal vouchers or other memoranda of transfers between funds or accounts.  Postings shall be made from this journal to the proper accounts on the books of the treasury.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 21, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.51, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.055. Time and Demand Deposits

Sec. 404.055.  TIME AND DEMAND DEPOSITS.  The comptroller shall maintain records of the daily balances of and the interest income from funds deposited by the comptroller in time and demand deposit accounts in each bank acting as a state depository.  The comptroller shall maintain and preserve those records according to the provisions of Subchapter D, Chapter 441, and of Chapter 552.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 76, Sec. 5.95(94), eff. Sept. 1, 1995;  Acts 1995, 74th Leg., ch. 426, Sec. 16, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.52, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.056. Information Concerning Warrants

Sec. 404.056.  INFORMATION CONCERNING WARRANTS.  (a)  The comptroller shall keep the information on each warrant that is necessary to enable an adequate audit to be performed.
(b)  The comptroller shall keep information on the payment of each warrant, including the number and amount of each warrant paid.
(c)  The comptroller shall keep detailed information concerning all canceled warrants.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 22, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.53, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.057. Warrants Payable Accounts

Sec. 404.057.  WARRANTS PAYABLE ACCOUNTS.  (a)  The comptroller shall keep warrants payable accounts for each fund.
(b)  To each account, the comptroller shall credit the daily totals of warrants issued and charged to each fund so that the balance of those accounts represents the aggregate amount of outstanding warrants.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 23, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.54, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.058. Outstanding Warrants

Sec. 404.058.  OUTSTANDING WARRANTS.  (a)  The comptroller shall compile information concerning outstanding warrants, which must be consistent with the requirements of the uniform statewide accounting system.
(b)  The warrant number of an outstanding warrant is excepted from the requirements of Section 552.021 if the warrant is issued by the comptroller.
(c)  A person who issues a warrant under Section 403.060(a) may disclose the warrant number of the warrant to a person other than the comptroller only if the comptroller has:
(1)  informed the person that the warrant is not an outstanding warrant;  or
(2)  authorized or required the disclosure.
(d)  In this section:
(1)  "Outstanding warrant" means any warrant except a warrant that:
(A)  has been paid by the comptroller;
(B)  has been canceled;  or
(C)  may not be paid by the comptroller because it was not presented before the date determined under Section 404.046 or other applicable law.
(2)  "Warrant number" means the number or other data element printed on a warrant that the comptroller uses to distinguish it from all other warrants that the comptroller may pay during the same period that the comptroller may pay the warrant under Section 404.046 or other applicable law.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 24, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.55, eff. Sept. 1, 1997;  Acts 2001, 77th Leg., ch. 1158, Sec. 20, eff. June 15, 2001.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.059. General Ledger Accounts

Sec. 404.059.  GENERAL LEDGER ACCOUNTS.  The comptroller shall charge the daily totals of the warrants to the respective funds and control accounts in the general ledger to which they apply.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 25, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.56, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.060. Priority of Warrants

Sec. 404.060.  PRIORITY OF WARRANTS.  Warrants on the treasury shall be on an equal basis with each other, except that if a question arises concerning the priority of payment of the warrants the comptroller shall determine the priority of payment.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 26, eff. Sept. 1, 1989;  Acts 1993, 73rd Leg., ch. 679, Sec. 64, eff. Sept. 1, 1993;  Acts 1995, 74th Leg., ch. 426, Sec. 17, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.57, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.062. Undetermined Remittances

Sec. 404.062.  UNDETERMINED REMITTANCES.  (a)  This subsection applies to money the status of which is undetermined or that is awaiting the time when it can be taken into the treasury.  The money shall be placed with the comptroller and credited to the suspense account.  The comptroller shall maintain information about the deposit of funds into the suspense account in accordance with Section 403.052.
(b)  When the status of money placed in the suspense account is determined, the money shall be transferred from the suspense account by placing the portion of it belonging to the state in the appropriate fund in the treasury, and the part not belonging to the state shall be refunded.  The refund shall be made either to the payor of the money or to the payor's estate, assignee, devisee, or other successor-in-interest.
(c)  When a deposit is made, it and any refunds shall be entered in the suspense cash book, and the balance shall represent the aggregate of the items still in suspense.  Warrants shall be used for making refunds.  The warrants shall be charged against the suspense funds to which they apply.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 27, eff. Sept. 1, 1989;  Acts 1991, 72nd Leg., ch. 641, Sec. 11, eff. Sept. 1, 1991;  Acts 1995, 74th Leg., ch. 426, Sec. 18, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.58, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.063. Violation

Sec. 404.063.  VIOLATION.  A person who knowingly or wilfully violates this chapter commits an offense.  An offense under this chapter is punishable by a fine of not less than $50 nor more than $500, by confinement in the county jail for not less than 30 days nor more than six months, or by both a fine and confinement.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.064. Office Fees

Sec. 404.064.  OFFICE FEES.  The comptroller shall keep records of the fees earned by the comptroller under this chapter. Those fees shall be deposited to the appropriate fund in the treasury.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 28, eff. Sept. 1, 1989;  Acts 1995, 74th Leg., ch. 426, Sec. 19, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.59, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.065. Cash Balancing

Sec. 404.065.  CASH BALANCING.  The comptroller shall keep records for the purpose of arriving at the daily cash balance.  The daily totals of receipts and disbursements and the amount of cash on hand and in depository banks shall be recorded.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 426, Sec. 20, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.60, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.066. Ledger

Sec. 404.066.  LEDGER.  (a)  The general ledger kept by the comptroller shall contain accounts for each fund.  Those accounts shall be credited with the existing balances and the daily totals of deposits.  Warrants issued and electronic funds transfers shall be charged daily to the fund accounts.
(b)  The ledger shall contain control accounts for cash, depository banks, bonds, interest, securities, warrants payable, and other necessary accounts.  Postings shall be made to the ledger daily.
(c)  The ledger shall be balanced daily.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 29, eff. Sept. 1, 1989;  Acts 1991, 72nd Leg., ch. 641, Sec. 12, eff. Sept. 1, 1991;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.61, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.067. Safekeeping; Investment Agencies

Sec. 404.067.  SAFEKEEPING;  INVESTMENT AGENCIES.  (a)  The comptroller shall keep custodial records that shall reflect all deposits and releases of securities held by the comptroller and belonging to a state investment agency.
(b)  The comptroller shall keep appropriate ledger accounts that include a short description of each security held in safekeeping for certain investment agencies of the state.
(c)  The comptroller shall keep controlling or total accounts of securities in the general ledger.  Those accounts shall be kept with respect to the total amount of bonds or other securities belonging to each separate fund.
(d)  Those controlling accounts shall be balanced monthly with the sum of the individual accounts for securities, which also shall be balanced monthly, and shall correspond to similar accounts kept by the comptroller.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 426, Sec. 21, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.62, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.068. State Regulatory Agencies Safekeeping and Pledged Collateral

Sec. 404.068.  STATE REGULATORY AGENCIES SAFEKEEPING AND PLEDGED COLLATERAL.  (a)  The comptroller shall keep a suitable system in which shall be entered all securities deposited with the comptroller by state depositories and other state agencies.  The comptroller shall enter in the system the authorizations to deposit or release the securities.
(b)  The comptroller shall keep a securities ledger in which appropriate accounts for each custodial agency are kept.  That ledger shall be balanced monthly against control accounts kept in the general ledger and against corresponding accounts kept by the comptroller.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 30, eff. Sept. 1, 1989;  Acts 1995, 74th Leg., ch. 426, Sec. 22, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.63, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.069. Trust Funds

Sec. 404.069.  TRUST FUNDS.  (a)  All money and securities deposited with the comptroller in trust for any legal purpose may be received by the comptroller as provided by Section 403.052.  The money or securities shall be held in trust by the comptroller in the same manner as the departmental suspense account.  Except as provided by Section 403.0271, the money may be withdrawn only on a warrant drawn or an electronic funds transfer initiated by the comptroller.  The securities may be withdrawn only by withdrawal authorization.
(b)  Money received in trust or for any legal purpose that is placed in a suspense account or fund shall be handled by the comptroller in the same manner as items deposited in the departmental suspense account.
(c)  Adequate registers, ledgers, and files shall be maintained by the comptroller to account for the receiving and disposing of trust and suspense money and securities.  Those registers, ledgers, and files shall be known as the trust and suspense record.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 31, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.64, eff. Sept. 1, 1997;  Acts 1999, 76th Leg., ch. 1467, Sec. 1.21, eff. June 19, 1999.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.070. Validity of Voided Warrants

Sec. 404.070.  VALIDITY OF VOIDED WARRANTS.  (a)  A warrant issued by the comptroller in payment of refunds from a fund in the treasury becomes void unless presented to the comptroller for payment before two years after the end of the fiscal year in which the warrant was issued.  The sum of money represented by a warrant voided under this section shall be transferred by the comptroller from the fund from which the warrant was originally issued to the general revenue fund.  Claims for the payment of a voided warrant may be presented to the legislature for appropriation from which the warrant may be paid.  This section does not affect the laws regulating the payment of other warrants issued by the comptroller.
(b)  When a transfer of money under this section is made, the comptroller shall prepare a list of the outstanding warrants representing the transfer.  The list must show the date of the original warrant, the departmental suspense account against which the warrant was originally drawn, the original warrant number, and the amount of the original warrant.  The list shall be maintained as a permanent record in the office of the comptroller.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 207, Sec. 32, eff. Sept. 1, 1989;  Acts 1995, 74th Leg., ch. 426, Sec. 23, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.65, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.071. Disposition of Interest on Investments

Sec. 404.071.  DISPOSITION OF INTEREST ON INVESTMENTS.  (a)  Interest received from investments of money in funds and accounts in the charge of the comptroller shall be allocated on a monthly basis as follows:
(1)  the pro rata portion of the interest received due to each constitutional fund shall be credited to that fund;
(2)  the pro rata portion of the interest received due to the game, fish, and water safety fund shall be credited to that fund;  and
(3)  the remainder of the interest received shall be credited to the general revenue fund.
(b)  The legislature may appropriate a portion of the interest under Subsection (a) to the comptroller in the amount necessary to reimburse the comptroller for costs incurred in receiving, paying, accounting for, investing, and safekeeping money in those funds and accounts.  Amounts appropriated for that purpose shall be deposited to the credit of the fund established for the deposit of commissions reserved to the comptroller under Section 404.052(d).
(c)  If a deficit occurs in the general revenue fund, the comptroller may place with a designated depository bank an offsetting compensating balance in a special depository account known as a special demand account secured by general revenue warrants only.
(d)  The comptroller is entitled to rely on the opinion and advice of the attorney general for the proper interpretation and application of this section.
(e)  For each special fund or account that contains depository interest, the comptroller shall transfer from the fund or account to the general revenue fund an amount equal to the interest paid from the general revenue fund on behalf of the fund or account.  In this subsection:
(1)  "Account" means a subdivision of a special fund or the general revenue fund.
(2)  "Fund" and "special fund" have the meanings assigned by Section 403.001.
(f)  The comptroller may adopt procedures and rules to administer Subsection (e).
(g)  Subsection (e) applies notwithstanding any other law.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 4, Sec. 2.07(a), eff. Sept. 1, 1989;  Acts 1993, 73rd Leg., ch. 438, Sec. 1, eff. June 6, 1993;  Acts 1993, 73rd Leg., ch. 449, Sec. 33, eff. Sept. 1, 1993;  Acts 1995, 74th Leg., ch. 426, Sec. 24, eff. June 9, 1995;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.66, eff. Sept. 1, 1997;  Acts 2001, 77th Leg., ch. 16, Sec. 1, eff. April 20, 2001.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.072. Examination by State Auditor

Sec. 404.072.  EXAMINATION BY STATE AUDITOR.  The disbursements and receipts of the comptroller are subject to audit by the state auditor in accordance with Chapter 321.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 584, Sec. 11, eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.67, eff. Sept. 1, 1997.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter E. General Duties › Section 404.073. Funds Outside Treasury

Sec. 404.073.  FUNDS OUTSIDE TREASURY.  (a)  The comptroller may be the trustee of funds or property outside the treasury.
(b)  The comptroller functioning as the trustee of funds or property outside the treasury may contract with the treasury to manage the funds or property in a manner similar to the management of funds in the treasury.
(c)  Interest that has been and that will be accrued or earned from deposits made under a law to which this subsection applies is state funds not subject to allocation or distribution to taxing units, cities, or transportation authorities under that law. This subsection applies to:
(1)  Section 205.02, Alcoholic Beverage Code;
(2)  Section 403.105(d) of this code;
(3)  Sections 321.501 and 321.504, Tax Code;
(4)  Sections 322.301 and 322.304, Tax Code; and
(5)  Sections 323.501 and 323.504, Tax Code.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1989, 71st Leg., ch. 4, Sec. 2.08(a), eff. Sept. 1, 1989;  Acts 1997, 75th Leg., ch. 1423, Sec. 7.68, eff. Sept. 1, 1997;  Acts 2001, 77th Leg., ch. 1420, Sec. 14.750, eff. Sept. 1, 2001.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 1051 (H.B. 914), Sec. 9, eff. January 1, 2020.
2023 Texas Statutes › Government Code › Title 4 - Executive Branch › Subtitle A - Executive Officers › Chapter 404 - State Treasury Operations of Comptroller › Subchapter F. State Funds Reform Act › Section 404.091. Short Title

Sec. 404.091.  SHORT TITLE.  This subchapter may be cited as the State Funds Reform Act.
Acts 1987, 70th Leg., ch. 147, Sec. 1, eff. Sept. 1, 1987.