Comptroller To Accept and Keep Safe Deposits

Sec. 1207.027. COMPTROLLER TO ACCEPT AND KEEP SAFE DEPOSITS. (a) The comptroller shall: (1) accept each deposit, payment, or instrument received under this subchapter; and (2) safely keep and use the money only for a purpose specified in this subchapter. (b) Money deposited with the comptroller under this subchapter may not be: (1) used by or for the benefit of this state or for the benefit of a creditor of this state, except as provided by Section 1207.032; or (2) commingled with other money. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.