During the 84th legislative session, the Texas Legislature created the Texas Bullion Depository (the depository) within the Office of the Comptroller of Public Accounts (the comptroller) (Act of June 19, 2015, 84th Leg., R.S., H.B. 483). The depository will hold certain bullion and specie acquired by the state or a political subdivision of the state, as well as receive and hold such deposits for private entities. The bill also created a new license and corresponding regulatory structure for depository agents, which are private, independently managed firms and institutions authorized to act as intermediaries to conduct retail transactions on behalf of the depository with current and prospective depository account holders. The bill placed responsibility for regulating depository agents under the purview of the department by amending several existing sections of Chapter 151 of the Texas Finance Code, the Money Services Act, and adding new Subchapter J. The depository is scheduled to begin accepting deposits of bullion and specie on January 1, 2018.
Texas Bullion Depository.Gov
Learn about the offering from the Texas Bullion Depository
The Comptroller of Public Accounts selected Lone Star Tangible Assets of Austin, Texas, to manage the Texas Bullion Depository day-to-day operations.
The Law & Guidance Manual includes select statutes, rules, legal opinions, supervisory memorandums, and regulatory guidance applicable to depository agents.
See Texas Administrative Code Title 34, Part 1, Chapter 14 for the Comptroller of Public Accounts rules on the Texas Bullion Depository.
Contact the Director of the Corporate Division or call (512) 475-1322 for specifics on the application process or to obtain a draft application for a Depository Agent.