Texas 00 132 Form in PDF

Detailed Guide for Writing Texas 00 132

After carefully preparing to deposit securities with the custodian per Texas Government Code section 404.031, it's important to correctly fill out the Texas 00 132 form. This step ensures a smooth process for recording and acknowledging the deposit of your securities. Once the form is properly completed and submitted, the Comptroller of Public Accounts will review and approve the submission. An approved copy will be emailed to the custodian, who in turn will execute and return one copy of the deposit form along with a new safekeeping receipt. Both documents are vital for maintaining accurate records of the transaction.

1. Begin by typing the depository's name in the designated field.
2. Enter the routing (ABA) number and the city where the depository is located.
3. Fill in the custodian of securities section, including another routing (ABA) number and city.
4. In the section labeled "DESCRIPTION OF SECURITIES," list each issue by its CUSIP number. Use a separate Safekeeping Receipt Number for each CUSIP. Include the name, maturity, interest rate, and par value for each security. Note that a maximum of five securities can be listed per page.
5. For the securities listed, mark whether they constitute "State collateral" or "Pooled collateral" by checking the appropriate box.
6. Calculate and enter the total par value of deposits on this page in the "TOTAL PAR DEPOSIT THIS PAGE" field.
7. Under "DEPOSITORY USE ONLY," affirm that the securities being pledged are legally owned by the depository, free and clear of any liens or claims. Print the authorized representative’s name, enter the date, and provide a signature and title. Don’t forget to include a phone number with the area code.
8. Email a signed copy of the completed form to collateral@cpa.texas.gov. Be sure to keep a copy for your records.

Remember, this process ensures that the securities you're depositing are correctly registered and safeguarded. The Comptroller's office, upon approving your submission, plays a crucial role in facilitating a secure transaction between you, the custodian, and any other involved parties. Following these steps with attention to detail will help in achieving a successful deposition of securities.

When individuals or organizations fill out the Texas 00 132 form, a few common errors can occur. Addressing these mistakes is crucial to ensure the application process for the deposit of securities is completed accurately and efficiently. Here are five key areas where mistakes are often made:

1. Failing to provide complete information: All sections of the Texas 00 132 form require attention. Omitting details such as the depository name, routing numbers, or the description of securities, including the CUSIPs, can lead to application delays.

2. Incorrect routing (ABA) numbers: Both the depository and custodian routing numbers must be accurately provided. These numbers are crucial for identifying financial institutions involved in the transaction and ensuring the securities are deposited correctly.

3. Misidentifying securities: The form allocates space to list each security by its CUSIP alongside its safekeeping receipt number. Mixing up these numbers or incorrectly listing the securities can create confusion and delay the deposit process.

4. Not checking the appropriate collateral box: The form requires the applicant to identify the type of collateral - either state collateral or pooled collateral. This distinction is critical for the Comptroller's record-keeping and processing of the securities deposit.

5. Incomplete signature sections: The Texas 00 132 form requires signatures from the depository pledging the securities, an authorized Comptroller representative, and the custodian accepting the deposit. Incomplete or missing signatures can invalidate the application.

Common mistakes also include:

• Submitting outdated contact information: Providing up-to-date phone numbers and email addresses is vital. It ensures all parties can communicate effectively throughout the deposit process.

• Overlooking the need to Email the form and safekeeping receipt(s) to the Comptroller: The direction to Email copies of the form and the receipts is a critical step for proper record-keeping and verification.

By avoiding these errors, individuals and organizations can ensure a smoother deposit process, aiding in the efficient management and recording of securities deposits with the State of Texas.

When handling the Texas 00 132 form, which is an application for the deposit of securities with a custodian, it's important to be aware of other documents that often come into play. These documents are crucial for a comprehensive understanding of the securities deposit process and ensure everything is executed correctly and in compliance with legal requirements.

• Form 00-131 - Security Release Request: This form is used when a depository wants to release the securities they have previously deposited. It is necessary for adjusting the portfolio or when the securities are no longer needed as collateral.
• Safekeeping Agreement: Outlines the terms and conditions under which the securities are held by the custodian. It details the responsibilities of the custodian in safeguarding the securities.
• Form 00-133 - Pledgee Designation Notice: Utilized by depositories to designate or change the pledgee for their security deposits. It's important for ensuring that the right entity is recognized as the beneficiary of the pledged securities.
• Title Verification Document: A document that verifies the depository's legal ownership and entitlement of the securities being deposited, free from any liens or encumbrances.
• Power of Attorney: In certain cases, individuals or entities may need to grant others the authority to deposit or manage securities on their behalf, necessitating a power of attorney.
• Securities Transfer Form: Required for the physical or electronic transfer of securities from one party to another. It ensures that the transfer is recorded and recognized legally.
• Compliance Declaration: A statement by the depository affirming adherence to relevant laws, regulations, and guidelines pertaining to the deposit of securities. It's crucial for legal and regulatory compliance.
• Annual Audit Report: While not directly related to the deposit of securities, many institutions require an annual audit of their financial and securities transactions. This document provides a comprehensive review of the institution's financial health and compliance with securities regulations.

Combining the Texas 00 132 form with these documents ensures a smoothly executed process for depositing securities. Each document serves a specific purpose, from legal verification to compliance, and helps maintain a secure and transparent environment for securities transactions. Whether you're a depository, custodian, or other involved party, understanding and utilizing these documents is crucial for the effective management of securities deposits.

The Texas 00 132 form, related to the deposit of securities with a custodian, shares commonalities with the Uniform Commercial Code (UCC-1) Financing Statement. Both documents are foundational in securing interests. The Texas 00 132 form is utilized for depositing securities, asserting control and safeguard, while the UCC-1 establishes a public record of a secured party’s interest in the debtor's property or collateral. Each form, thereby, plays a critical role in the announcement and validation of these interests within respective legal frameworks.

Similarly, the Federal Reserve Bank’s Pledge Agreement echoes the principles of the Texas 00 132 form. This agreement allows entities to pledge securities to the Federal Reserve Bank as collateral. Here, the overarching purpose aligns: ensuring the security or collateral is officially recorded, held, and managed under stipulated terms. Both documents serve as a formal engagement between parties for the handling and acknowledgment of securities, emphasizing their legal and enforceable nature.

The Security Agreement, a key document in detailing the agreement between a lender and borrower regarding the pledged collateral, shares a resemblance with the Texas 00 132 form. This agreement specifies the secured assets and ensures the lender's interest is protected under law. Likewise, the Texas 00 132 form legally documents the deposit of securities as collateral, maintaining a formal record and conditions under which these assets are managed—underscoring the legal protections afforded to involved parties.

Custodial Agreement forms, which detail the arrangements made for holding and safeguarding clients' securities, also parallel the Texas 00 132 form. These agreements outline the responsibilities and obligations of the custodian, including safekeeping and management of assets. Both documents ensure that the securities are in a regulated and protected environment, detailing custody arrangements that underpin the trust and legal compliance expected in such transactions.

Corporate Trust Agreements resemble the Texas 00 132 form in their function to formalize the fiduciary responsibilities and roles in the administration of trust assets, including securities. These agreements establish a legal framework for managing the securities or assets, detailing the protocols and stipulations for their safekeeping and administration. The concord herein lies in the meticulous documentation and affirmation of roles, responsibilities, and legal rights over the securities entrusted.

The Estate Planning Document, which often includes provisions for the handling and distribution of securities as part of an individual’s estate, shares aspects with the Texas 00 132 form in its concern for the legal and proper administration of these assets. While focusing on posthumous considerations, the significance placed on the legal status, handling, and transferability of securities underscores a common theme with the 00 132 form: the importance of clear, legally binding documentation in asset management.

The Securities Loan Agreement outlines terms under which securities are loaned out by one party to another, including rights, obligations, and protection of interests for both lender and borrower. This document shares the core objective of the Texas 00 132 form: establishing a legal framework that details the control, ownership, and terms of use regarding securities, ensuring a mutual understanding and agreement on how these assets are handled within a legally recognized structure.

Finally, the Investment Management Agreement, detailing the terms and conditions under which investment assets, including securities, are managed, aligns with the Texas 00 132 form in its legal detailing of asset management responsibilities. Both documents formalize the relationship and expectations between parties, providing a structured approach to the management, performance, and safekeeping of securities or assets involved, solidifying the accord through documented agreements.

When filling out the Texas 00 132 form, which is used for the deposit of securities, there are several things you should and shouldn't do to ensure the process goes smoothly. Below are the lists of dos and don'ts that you should follow:

Things You Should Do:

1. Read the instructions carefully before starting the form to understand each section thoroughly.
2. Type your information into the form to prevent misunderstandings due to illegible handwriting.
3. Ensure accurate and complete information for each field, including the depository name, routing number, and security details like CUSIP, maturity, interest rate, and par value.
4. Check the appropriate box for the type of collateral (state or pooled) you are depositing.
5. Verify legal ownership and ensure the securities are free and clear of all other liens and claims before pledging.
6. Sign and date the form as required, confirming your authority to make the deposit.
7. Email a signed copy of the completed form to collateral@cpa.texas.gov, as instructed on the form.
8. Keep a copy of the form and any correspondence for your records, including the safekeeping receipt, once issued.
9. Include your phone number with the area code as required, to facilitate any necessary communication.
10. Review everything twice before submitting to minimize the need for corrections or additional documentation.

Things You Shouldn't Do:

• Don't rush through filling out the form without understanding each requirement, as this could lead to mistakes.
• Avoid leaving any fields blank unless specified that it's optional or not applicable to your situation.
• Do not guess information; verify each detail to ensure its accuracy before entering it into the form.
• Refrain from using handwritten submissions unless absolutely necessary; typed forms are easier to read and process.
• Avoid pledging securities that you do not legally own or that are encumbered with liens or claims.
• Don't assume the form has been received; follow up with an email or call if you haven't received a confirmation within a reasonable time frame.
• Do not send the form to the wrong email address; double-check the email provided on the form to ensure it's sent correctly.
• Avoid incomplete documentation, which could delay the processing of your securities deposit.
• Do not ignore the instructions for emailing and mailing. They are given to make sure your documents reach the correct department.
• Refrain from using outdated forms; always check for the most recent version before submitting.

Following these guidelines will help in successfully completing and submitting the Texas 00 132 form, ensuring a smoother process for depositing your securities.

When discussing the Texas 00 132 form, several misconceptions commonly arise. Understanding these misconceptions is crucial for individuals and entities looking to navigate the intricate details of depositing securities with a custodian as per the directives of section 404.031 of the TEX. GOVT. CODE.

• Misconception 1: The form is only for governmental use. While it is issued by the Comptroller of Public Accounts and plays a key role in the government's management of securities, private depositories can also use this form to deposit their securities with custodians.

• Misconception 2: Any number of securities can be listed on a single form. The form stipulates that a maximum of five securities can be listed per page. This is a critical detail to ensure clarity and manageability in the processing of securities.

• Misconception 3: Electronic submission is not permitted. Contrary to this belief, the form and accompanying documents can be emailed to the specified address, facilitating a quicker and more efficient submission process.

• Misconception 4: The form is complicated to fill out. While comprehensive, the form clearly outlines the necessary information required, making it straightforward for depositories to complete as long as they have the relevant information on hand.

• Misconception 5: Depositories can pledge securities they do not fully own. The form expressly confirms the depository pledges only those securities in which it has legal and actual ownership, free and clear of all liens and claims, ensuring the protection of parties involved.

• Misconception 6: All types of collateral are the same. The form differentiates between state and pooled collateral, highlighting the need for depositories to accurately classify their securities when making a deposit.

• Misconception 7: The Comptroller's office does not verify deposited securities. Both the Comptroller and the custodian execute checks to ensure that all securities are in transferable form and correctly receipted, underscoring the system's integrity.

• Misconception 8: Information on the form is only used by the Comptroller. A copy of the completed form and the safekeeping receipt are sent to multiple parties, including the custodian and the depositing depository, ensuring transparency and accountability in the deposit process.

• Misconception 9: Once submitted, the process is out of the depository's hands. Depositories should closely follow their securities deposit, as they receive a copy of the safekeeping receipt and must ensure that the transaction is completed as intended. Additionally, they are responsible for maintaining accurate records and ready contact with the Comptroller's office if issues arise.

Clarifying these misconceptions helps streamline the deposit process, ensuring that entities are well-informed about the requirements and procedures associated with the Texas 00 132 form. Accurate understanding and compliance are key to effective securities management and adherence to the governing Texas Government Code.

Filing the Texas 00 132 form is a step towards depositing securities with a custodian, a process that involves meticulous attention to detail. These key takeaways ensure users approach this task with informed precision:

• Understanding the Purpose: The form is specifically designed for the deposit of securities with a custodian as per section 404.031 of the Texas Government Code.
• Completing the Form: Accuracy is crucial when filling out the form. It requires detailed information about the depository, custodian of securities, and the securities themselves — including CUSIP numbers, maturity, interest rates, and par values.
• Email Submission: After completing the form, a signed copy must be emailed to collateral@cpa.texas.gov, adhering to the instructions provided.
• Approval Process: Upon acceptance, the Comptroller of Public Accounts will approve the application and forward it to the custodian for execution.
• Receipt and Record Keeping: The custodian and the depository will each receive a copy of the deposit form and a new safekeeping receipt, ensuring all parties have a record of the transaction.
• Legal Ownership Assertion: Depositories are required to confirm that they are the legal and actual owners of the securities being deposited, and that these securities are free from any other liens and claims.
• Contact Information: The form mandates the inclusion of contact information, including a phone number, helping facilitate communication between the Comptroller, the depository, and the custodian.
• Multiple Securities: The form allows for the listing of up to five securities per page, each requiring its own separate safekeeping receipt number and detailed information.

Accurately working through the Texas 00 132 form is foundational for depositories wishing to secure their securities efficiently and according to legal standards. It's a testament to the importance of detail, clarity, and communication in managing financial assets within the state of Texas.