Legislation and Administrative Rules
The Pooled Collateral Program was established by the 81st Texas Legislature, Regular Session 2009. Senate Bill 638 amended Chapter 2257, Government Code, by adding Subchapter F as an alternative to collateralization under Subchapter B.
This law requires the Comptroller to establish the Pooled Collateral Program by administrative rule. The Comptroller's rules amend the Texas Administrative Code, Title 34, Part 1, Chapter 4 "Treasury Administration" by adding Subchapter A - Local Pooled Collateral Program.
These rules establish the administrative and procedural guidelines for collateralization of deposits of public funds and for monitoring collateral maintained by participating depository institutions.