Tex. Finance Code § 65.013
This is the official text of Tex. Finance Code § 65.013, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 65.013. ACCOUNT AS LEGAL INVESTMENT.
Official statutory text
(a) Each of the following persons may invest money held by the person in a savings account of an association or a federal association:
(1) any fiduciary, including an administrator, executor, guardian, or trustee;
(2) a political subdivision or instrumentality of this state;
(3) an insurance company doing business in this state;
(4) a business or nonprofit corporation;
(5) a charitable or educational corporation or association; and
(6) a financial institution, including a bank or credit union.
(b) An investment by an insurance company in a savings account is eligible for tax reducing purposes under Chapter 221, Insurance Code.
(c) An investment by a school district in a savings account insured by the Federal Deposit Insurance Corporation is considered to meet the requirements of Section 45.102, Education Code.
(1) any fiduciary, including an administrator, executor, guardian, or trustee;
(2) a political subdivision or instrumentality of this state;
(3) an insurance company doing business in this state;
(4) a business or nonprofit corporation;
(5) a charitable or educational corporation or association; and
(6) a financial institution, including a bank or credit union.
(b) An investment by an insurance company in a savings account is eligible for tax reducing purposes under Chapter 221, Insurance Code.
(c) An investment by a school district in a savings account insured by the Federal Deposit Insurance Corporation is considered to meet the requirements of Section 45.102, Education Code.
Status: in_force · Read it on the official government site
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