Texas Transportation Code § 451.360 Bonds As Authorized Investments

Sec. 451.360. BONDS AS AUTHORIZED INVESTMENTS. (a) An authority's bonds are authorized investments for:

(1) a bank;

(2) a savings bank;

(3) a trust company;

(4) a savings and loan association; and

(5) an insurance company.

(b) The bonds, when accompanied by all appurtenant, unmatured coupons and to the extent of the lesser of their face value or market value, are eligible to secure the deposit of public funds of this state, a political subdivision of this state, and any other political corporation of this state.

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

Section: Previous  451.353  451.354  451.355  451.356  451.357  451.358  451.359  451.360  451.361  451.362  451.3625  451.363  451.401  451.402  451.403  Next

Last modified: September 28, 2016