Texas Education Code - Section 45.201. Definitions
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§ 45.201. DEFINITIONS. In this subchapter:
(1) "School district" means any independent school
district.
(2) "Bank" means a bank, a savings and loan
association, or a savings bank organized under the laws of this
state, another state, or federal law that has its main office or a
branch office in this state. The term does not include any bank the
deposits of which are not insured by the Federal Deposit Insurance
Corporation.
(3) "Time deposit," "time certificate," "certificate
of deposit," and "time deposit-open account" have the definitions
adopted for those terms by the Board of Governors of the Federal
Reserve System.
(4) "Approved securities" means:
(A) bonds of this state or any agency or
political subdivision of this state;
(B) all evidences of indebtedness legally issued
by the board of trustees of the depositing school district;
(C) all debt securities that are a direct
obligation of the treasury of the United States;
(D) reducing principal balance securities, the
principal and interest of which are unconditionally guaranteed or
insured by, or backed by the full faith and credit of, this state or
the United States or their respective agencies and
instrumentalities;
(E) other obligations, the principal and
interest of which are unconditionally guaranteed or insured by, or
backed by the full faith and credit of, this state or the United
States or their respective agencies and instrumentalities; and
(F) those securities provided for by Article 842,
Revised Statutes, and Section 1, Chapter 160, General Laws, Acts of
the 43rd Legislature, 1933 (Article 842a, Vernon's Texas Civil
Statutes).
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Amended by Acts 1999, 76th Leg., ch. 62, § 7.49, eff. Sept. 1,
1999; Acts 1999, 76th Leg., ch. 344, § 5.002, eff. Sept. 1,
1999; Acts 2003, 78th Leg., ch. 201, § 39, eff. Sept. 1, 2003;
Acts 2005, 79th Leg., ch. 417, § 1, 2, eff. June 17, 2005; Acts
2005, 79th Leg., ch. 1199, § 1, 2, eff. June 18, 2005.
Section: 45.157 45.158 45.159 45.160 45.161 45.162 45.163 45.201 45.202 45.203 45.204 45.205 45.206 45.207 45.208
Last modified: August 10, 2007
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