Sec. 372.029. AUTHORIZED INVESTMENTS; SECURITY. (a) Bonds issued under this subchapter are legal and authorized investments for:
(1) banks, trust companies, and savings and loan associations;
(2) all insurance companies;
(3) fiduciaries, trustees, and guardians; and
(4) interest funds, sinking funds, and other public funds of the state or of an agency, subdivision, or instrumentality of the state, including a county, municipality, school district, or other district, public agency, or body politic.
(b) Bonds issued under this subchapter may be security for deposits of public funds of the state or of an agency, subdivision, or instrumentality of the state, including a county, municipality, school district, or other district, public agency, or body politic, to the extent of the market value of the bonds, if accompanied by any appurtenant unmatured interest coupons.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Section: Previous 372.018 372.019 372.020 372.021 372.022 372.023 372.024 372.025 372.026 372.027 372.028 372.029 372.030 372.041 372.151 NextLast modified: September 28, 2016