Texas Natural Resources Code
§ 161.173 — INVESTMENT OF MONEY IN FUND
NR § 161.173Title 7. RESOURCES PROGRAMS · Ch. 161. VETERANS LAND BOARD · Art. E. VETERANS' LAND FUND
Statute text
View on source(a)Money in the fund that is not immediately committed to paying principal of and interest on the bonds, to the purchase of land, or to the payment of expenses as provided in this chapter may be invested in:
(1)direct security repurchase agreements and reverse security repurchase agreements made with state or national banks that have main offices or branch offices in this state or with primary dealers as approved by the Federal Reserve System;
(2)direct obligations of or obligations the principal and interest of which are guaranteed by the United States;
(3)direct obligations of or obligations guaranteed by the Federal Home Loan Banks, the Federal National Mortgage Association, the Federal Farm Credit System, the Student Loan Marketing Association, the Federal Home Loan Mortgage Corporation, or a successor organization to one of those organizations;
(4)bankers' acceptances that:
(A)are eligible for purchase by members of the Federal Reserve System;
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Legislative history
Acts 2011, 82nd Leg., R.S., Ch. 1083 (S.B. 1179), Sec. 23, eff. June 17, 2011.