Tex. Transp. Code § 172.303

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 172.303 - Bonds As Authorized Investments and Security for Deposits of Public Funds

(a) District bonds are legal and authorized investments for:

(1) a bank;

(2) a trust company;

(3) a savings and loan association; and

(4) an insurance company.

(b) The bonds are:

(1) eligible to secure the deposit of public funds of this state or a municipality, a county, a school district, or any other political corporation or subdivision of this state; and

(2) lawful and sufficient security for the deposit to the extent of the principal amount or market value of the bonds, whichever is less.

Tex. Transp. Code § 172.303

Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.