1201.023 – UNCERTIFICATED BOOK-ENTRY ISSUANCE. (a) The
Texas Government Code § 1201.023
Summary
This law allows issuers of public securities to maintain ownership records in a book-entry format without physical certificates. It applies to any governing body that issues public securities, enabling a more efficient and streamlined process for ownership tracking.
Allows book-entry records for public securities ownership.
Ownership records can be maintained by the issuer or an agent.
Facilitates issuance without physical certificates.
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In simple terms: Learn about Texas's UNCERTIFICATED BOOK-ENTRY ISSUANCE. (a) The law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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