Section 1201.067 - Exception to Approval Requirement(a) If the duty to convert or reconvert a public security or interest coupon or to transfer or exchange a public security is imposed on a corporate trustee under a trust agreement or indenture securing the public security or on a paying agent for the public security, the attorney general is not required to approve and the comptroller is not required to register:(1) the converted or reconverted public security or interest coupon; or(2) the public security delivered on transfer or exchange of the previously issued public security.(b) A converted or reconverted public security or interest coupon, or a transferred or exchanged public security, is valid and incontestable in the same manner and with the same effect as the previously issued public security.Tex. Gov't. Code § 1201.067
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.