Texas Government Code 1203.041 – Conversion of Public Security
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(a) This section applies to a public security only if the public security authorization relating to the security:
(1) provides for conversion of the security; and
(2) names the comptroller as registrar.
(b) A public security that is issued with one or more coupons becomes fully registrable if:
(1) the security is presented to the comptroller; and
(2) the comptroller removes each coupon.
Terms Used In Texas Government Code 1203.041
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
(c) A public security that is issued as a fully registrable security becomes a security with one or more coupons if:
(1) the security is presented to the comptroller; and
(2) the comptroller attaches an unmatured coupon or coupons to the security.
(d) Attachment and removal of a coupon or coupons may occur successively from time to time.