34 Tex. Admin. Code § 4.106 - Voluntary Withdrawal from the Pooled Collateral Program
(a) An approved depository institution or
public entity may withdraw from the pooled collateral program by providing
written notice to the comptroller and the other named party to its collateral
security agreement(s) (either the depository institution or public entity). The
depository institution must provide notice in writing at least 90 days before
the effective date of withdrawal. The public entity must provide reasonable
written notice of withdrawal from the program as soon as practicable.
(b) As part of the withdrawal process a
participating depository institution must:
(1) maintain the required amount of
acceptable collateral in the pooled collateral program until the effective date
of withdrawal;
(2) continue to
provide the required reports detailing required information through the
effective date of withdrawal;
(3)
continue to comply with the terms of collateral security agreements through the
effective date of withdrawal; and
(4) provide written notice to the comptroller
that it has taken all appropriate steps to provide for the orderly transition
of public entity deposits.
Notes
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