Tex. Agriculture Code § 58.037
This is the official text of Tex. Agriculture Code § 58.037, part of Texas’s Agriculture Code — regulates farming, livestock, and agricultural commerce.
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§ 58.037. BONDS AS INVESTMENTS.
Official statutory text
(a) The bonds are legal and authorized investments for:
(1) banks;
(2) trust companies;
(3) savings and loan associations;
(4) insurance companies of all kinds and types;
(5) fiduciaries;
(6) trustees;
(7) guardians; and
(8) sinking and other public funds of the state, municipalities, counties, school districts, and other political subdivisions of the state.
(b) The bonds are eligible to secure the deposit of any public funds of the state, municipalities, counties, school districts, or other political subdivisions of the state, and the bonds shall be lawful and sufficient security for the deposits to the extent of their face value when accompanied by all unmatured coupons attached to the bonds.
(1) banks;
(2) trust companies;
(3) savings and loan associations;
(4) insurance companies of all kinds and types;
(5) fiduciaries;
(6) trustees;
(7) guardians; and
(8) sinking and other public funds of the state, municipalities, counties, school districts, and other political subdivisions of the state.
(b) The bonds are eligible to secure the deposit of any public funds of the state, municipalities, counties, school districts, or other political subdivisions of the state, and the bonds shall be lawful and sufficient security for the deposits to the extent of their face value when accompanied by all unmatured coupons attached to the bonds.
Status: in_force · Read it on the official government site
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