Sec. 403.705. THIRD-PARTY CONTRACTS AND PERMISSIBLE TRANSACTIONS; AUDITS. (a) The comptroller may contract with one or more third-party entities for the administration or management of the reserve, including contracting with: (1) a qualified custodian who employs secure custodial technologies, including cold storage; and (2) a qualified liquidity provider to facilitate the purchase and management of assets in the reserve. (b) For purposes of Subsection (a)(2), "qualified liquidity provider" means an entity that: (1) is licensed or regulated under applicable federal or state law; (2) maintains audited financial statements prepared by a regulated auditor; (3) has at least five years of experience trading in the digital assets industry; (4) maintains an office and has a registered principal in this state; and (5) has certified in a method prescribed by the comptroller that the provider meets the requirements of Subdivisions (1)-(4). (c) If the comptroller determines it is in the best interest of the reserve, the comptroller may use derivatives. (d) The comptroller may contract with a certified public accountant to perform an independent audit of the reserve.
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