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Texas Natural Resources Code

§ 164.016 — BONDS AS INVESTMENTS AND SECURITY

NR § 164.016Title 7. RESOURCES PROGRAMS · Ch. 164. VETERANS' FINANCIAL ASSISTANCE PROGRAM

Statute text

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(a)The bonds are legal and authorized investments for banks, savings banks, trust companies, savings and loan companies, insurance companies, fiduciaries, trustees, guardians, the sinking funds of cities, towns, villages, counties, school districts, and other political subdivisions of the state, and other public funds of the state and its agencies.
(b)The bonds are eligible to secure deposits of public funds of the state and cities, counties, school districts, and other political subdivisions of the state. The bonds are lawful and sufficient security for deposits to the extent of their par value.

Legislative history

Added by Acts 1993, 73rd Leg., ch. 242, Sec. 3.01, eff. Aug. 30, 1993.

Source: Texas Natural Resources Code § 164.016 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.