1206.023 – EXCEPTION TO APPROVAL REQUIREMENT. (a) If the
Texas Government Code § 1206.023
Summary
This law exempts certain public securities and interest coupons from requiring approval by the attorney general or registration by the comptroller when a corporate trustee or paying agent is responsible for their replacement. It primarily affects financial transactions involving public securities managed under trust agreements or indentures.
Exempts replacement securities from attorney general approval.
No comptroller registration needed for exchanged securities.
Applies to corporate trustees and paying agents.
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In simple terms: Learn about Texas's EXCEPTION TO APPROVAL REQUIREMENT. (a) If 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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