116.089 – SURRENDER OF INTEREST ON SECURITIES. On the
Texas Local Government Code § 116.089
Summary
This law requires the commissioners court to surrender interest coupons or evidence of interest on securities when requested by a county depository, provided that the remaining pledged securities are sufficient. It primarily affects counties and their depositories managing public funds.
Commissioners court must surrender interest upon request.
Adequate pledged securities are required for surrender.
Applies to county depositories managing public funds.
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In simple terms: Learn about Texas's SURRENDER OF INTEREST ON SECURITIES. On 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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