34 Tex. Admin. Code § 14.2 - Standards for Deposit
(a) If the
depository determines that doing so is necessary to ensure compliance with the
law, prevent fraud, or otherwise protect the interests of the depository, this
state, its agencies, or political subdivisions of this state, the depository
may:
(1) refuse to open a depository account
for any person, whether acting in the person's own right, as trustee, or in
another fiduciary capacity;
(2)
deny, refuse, or return any deposit of bullion or specie;
(3) close or otherwise terminate without
notice the depository account of any person; or
(4) refuse to honor a request for the
transfer of an account or account balance.
(b) To protect the security and integrity of
the depository, the depository need not provide a reason for the refusal,
denial, or closure or an account under subsection (a) of this
section.
(c) Deposits of bullion
and specie, regardless of form, will be recorded in units of troy ounces pure
and will specify the type and quantity of each precious metal that is
deposited.
(d) Deposits of bullion
and specie that are credited to a depository account may be further classified
by reference to:
(1) the particular form in
which the metals were deposited;
(2) the mint at which the metals were
produced;
(3)
denomination;
(4) assay mark;
or
(5) any other indicator as
applicable.
(e) The
depository may restrict the types and sources of precious metals, bullion, or
specie that may be deposited with the depository.
(f) The depository may restrict the forms in
which deposits of precious metals may be made to those forms that conveniently
lend themselves to measurement and accounting in units of troy ounces and
standardized fractions of troy ounces.
(g) The depository shall publish on its
website the types, sources, forms, and weights and measures of precious metals,
bullion, or specie that may be deposited with the depository.
Notes
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