161.056 – BOOK TRANSFERS. The Federal Reserve Bank of
Texas Property Code § 161.056
Summary
This law allows the Federal Reserve Bank of Dallas or a clearing corporation to transfer ownership of securities electronically, without needing to physically deliver the certificates. It streamlines the process of transferring securities for entities involved in financial transactions.
Enables electronic transfer of securities ownership.
No physical delivery of certificates required.
Applicable to Federal Reserve Bank and clearing corporations.
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In simple terms: Learn about Texas's BOOK TRANSFERS. The Federal Reserve Bank of 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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