Sec. 1161.003. INVESTMENTS THAT MEET STANDARD FOR INVESTMENT. A guardian of the estate is considered to have exercised the standard required by Section 1161.002(a) with respect to investing the ward's estate if the guardian invests in the following:
(1) bonds or other obligations of the United States;
(2) tax-supported bonds of this state;
(3) except as limited by Sections 1161.004(b) and (c), tax-supported bonds of a county, district, political subdivision, or municipality in this state;
(4) if the payment of the shares or share accounts is insured by the Federal Deposit Insurance Corporation, shares or share accounts of:
(A) a state savings and loan association or savings bank that has its main office or a branch office in this state; or
(B) a federal savings and loan association or savings bank that has its main office or a branch office in this state;
(5) collateral bonds that:
(A) are issued by a company incorporated under the laws of this state that has a paid-in capital of $1 million or more;
(B) are a direct obligation of the company; and
(C) are specifically secured by first mortgage real estate notes or other securities pledged with a trustee; or
(6) interest-bearing time deposits that may be withdrawn on or before one year after demand in a bank that does business in this state, if the payment of the time deposits is insured by the Federal Deposit Insurance Corporation.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
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