Tex. Finance Code § 95.010
This is the official text of Tex. Finance Code § 95.010, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 95.010. ACCOUNT AS LEGAL INVESTMENT.
Official statutory text
(a) Each of the following persons may invest money held by the person in a deposit account of a savings bank doing business in this state:
(1) any fiduciary, including an administrator, executor, guardian, or trustee;
(2) a political subdivision or instrumentality of this state;
(3) a business or nonprofit corporation;
(4) a charitable or educational corporation or association; and
(5) a financial institution, including a bank, savings and loan association, or credit union.
(b) An investment by an insurance company in a deposit account is eligible for tax reducing purposes under Chapters 221 and 222, Insurance Code.
(c) An investment by a school district in a deposit account insured by the Federal Deposit Insurance Corporation meets the requirements of Sections 45.102 and 45.208, Education Code.
(1) any fiduciary, including an administrator, executor, guardian, or trustee;
(2) a political subdivision or instrumentality of this state;
(3) a business or nonprofit corporation;
(4) a charitable or educational corporation or association; and
(5) a financial institution, including a bank, savings and loan association, or credit union.
(b) An investment by an insurance company in a deposit account is eligible for tax reducing purposes under Chapters 221 and 222, Insurance Code.
(c) An investment by a school district in a deposit account insured by the Federal Deposit Insurance Corporation meets the requirements of Sections 45.102 and 45.208, Education Code.
Status: in_force · Read it on the official government site
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