Sec. 117.125. TRANSFER OF MONEY. (a) In the absence of a contrary order from a court having jurisdiction over the registry fund, a clerk may transfer money deposited in the fund into a separate account.
(b) A clerk shall transfer all money deposited in a registry fund under Chapter 1355, Estates Code, into a separate account.
(c) Money transferred into a separate account under this section must be:
(1) transferred into an account authorized for investment under Chapter 2256, Government Code, by a local government or investment pool; and
(2) invested according to the investment officer designated under Section 2256.005, Government Code, by the investing entity of which the county is a member.
(d) A transfer of money into a separate account under this section is exempt from the requirements prescribed by Section 117.121 for disbursements from registry funds.
(e) An investment of money transferred from a registry fund under this section is subject to the limitations, policies, and standards of care provided by Chapter 2256, Government Code.
Added by Acts 1999, 76th Leg., ch. 196, Sec. 8, eff. Aug. 30, 1999.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 324 (S.B. 1488), Sec. 22.051, eff. September 1, 2017.
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