Tex. Finance Code § 123.205
This is the official text of Tex. Finance Code § 123.205, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 123.205. INVESTMENTS AND SECURITIES.
Official statutory text
(a) In accordance with commission rules, a credit union may:
(1) develop and offer investment programs to its members and depositors; or
(2) act as agent for its members and depositors in the purchase, sale, or other disposition of a security, an interest in a mutual fund, or an interest or participation in any other type of investment.
(b) A credit union may issue and sell securities in connection with an investment program developed and offered under Subsection (a)(1).
(1) develop and offer investment programs to its members and depositors; or
(2) act as agent for its members and depositors in the purchase, sale, or other disposition of a security, an interest in a mutual fund, or an interest or participation in any other type of investment.
(b) A credit union may issue and sell securities in connection with an investment program developed and offered under Subsection (a)(1).
Status: in_force · Read it on the official government site
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