duplicate 2DTexture at runtime

I need to duplicate a 2DTexture at runtime. I am working on something that will allow me to write on top of a background. Currently I am using an object with 2 materials (one is a transparent) when I write on the transparent one it appears to be on top of the other. The reason I am doing it this way is that I need to have the ability to clear off what ever I have put on the texture. If it was just a white texture that would not be an issue; I could just paint over it with white, but since its a transparent texture with alpha I can’t. So I am hoping just to put a fresh copy over it.

Creating a new texture would not be an issue either if isReadable was not essential to what I am doing. I am sure there are a couple of other settings in there is need to preserve as well.

Thank You
TWest

I also tries to pull in another image using texture.LoadImage and saved it over the variable holding to transparent texture. This seemed to cause some kind of endless loop/memory leak when i try to setpixel on it.