Sec. 1207.029. SELECTION OF PAYING AGENT. If there is more than one paying agent for an obligation being refunded, the comptroller shall send the money directly to:
(1) the paying agent located in this state, if only one paying agent is located in this state;
(2) the paying agent located in this state having the largest capital and surplus, if more than one paying agent is located in this state; or
(3) the paying agent having the largest capital and surplus, if no paying agent is located in this state and more than one paying agent is located in another state.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
Section: Previous 1207.022 1207.023 1207.024 1207.025 1207.026 1207.027 1207.028 1207.029 1207.030 1207.031 1207.032 1207.033 1207.034 1207.035 1207.061 NextLast modified: September 28, 2016