|
<br />',,', "" ::'.'
<br />
<br />~;2256~006
<br />
<br />.: '," GOVERNMENT>CODE\ .'
<br />'.Title 10\ .....
<br />
<br />'Acts 1989, 71st Leg., ch. 750, S.1. .' ....,..,
<br />Vernon's Ann.Civ.St. art. 842a-2, 9 2(a). .
<br />
<br />...."(l'.:_.;:.:..-,'.l,'
<br />
<br />:,J \..,:.,',:1': ':'jll,:i._, '.,/,r(:
<br />
<br />, to.' .
<br />,'.\; .),:..:.} ': ;.'
<br />
<br />'.'
<br />
<br />'!\
<br />
<br />9 2256.007. Authorized Investments: Certifieat~s of Deposit
<br />
<br />A certificate of deposit is an authorized investment under this subchapter if
<br />the certificate of deposit is issued by a state or national bank domiCiled in this
<br />state or a savings and loan association domiciled in this state and is:
<br />
<br />(1) guaranteed or insured by the Federal Deposit Insurance Corporation or
<br />its successor;
<br />
<br />. (2) secured by obligations that are described:by, Section 2256:006. incl~d~
<br />, ing rnortgage backed securities directly issued by a'federal. agency. o~,instru-;
<br />rnentality that have a market value of not less. than the principal amount of
<br />the certificates; or . '"
<br />\ ','! 1..;(, .;': '.
<br />
<br />(3)" secured in 'any other manner and amount provided.by law for deposits
<br />of the investing entity. . "', , '. ".,' . ," ,'.'. ." " . ,",
<br />
<br />Added by Acts 1993, 73rd Leg., ch.268; 's i eff: Sept. 1. '1993.
<br />
<br />1'';-.
<br />
<br />. ~, ...'
<br />
<br />...... .
<br />
<br />Prior Laws:
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1989, 71st Leg., ch.39, 9 1. .
<br />'Acts'J989;'71st Leg.~ch. '628,91::'
<br />
<br />Historical ,and Statutory Notes' '. !I:
<br />Acts 1989, 71s;i.eg:,'ch. 693; ~';4: "".,
<br />Acts 1989,. 71st Leg., ch. 750, 9 1.
<br />Vernon's Ann.Civ.St..art..842a-;2, 9 2(a)., . "
<br />:, ". ." '.. '.. , :.: ! '; ,,:,.-,.:!;. '", '. ,.,1" .
<br />
<br />',"-,.'
<br />
<br />.,', .....
<br />
<br />, !
<br />
<br />.
<br />'" ;.
<br />
<br />.....
<br />
<br />~ 2256.008. 'Atithorized Investments:;RepurehaseAgreements. '.
<br />
<br />(a) A fully collatbi-aiized rc'pui.-chasc agrc~mentis' ani arlthorlzedirivestritent
<br />under this subchapter if the ,repurchase agreernent: Ci", '. ...
<br />. (1) has a definedterrnination :date; i.
<br />(:2.) is secur~d by obligati6ns d~scribedby Seddon 2256.0'0'6(1); '.' . .
<br />. .'., , ;.' \ .' , , , . . . ';':', I . . I,' ' ! . ... '. ' .: ; . ,_~ 1
<br />(3) is pledged with a third party selected or approved by the entity; .and
<br />. ,..,:'" .... '.' .' ,. ", '. ,.: -' .:. . "It , . '. 'J . ,', . .' '
<br />, ,'(4) is placed throttgh a.primary governrnentseeurities dealer, as .defined by
<br />'ihcFederal Reserve, or a bank domiciled in this .state. " .', ': ,... .
<br />",' " .
<br />,'(b) In this, section, '.'repurchase agreement" rneans a simultaneous agree-
<br />ment to buy, hold far.a specifiedtitrie, and sell back ata future datc'obligations
<br />described by Section2256.006(l), .the principal. and interest of which are
<br />guaranteed by theUnitedStat~s in market value of not less than the prinCipal
<br />. amount of thdundsdisbi.1rsed. ,The terrn .indudesa direct security repurchase
<br />agreernent and a reverse security repurchase agre'errient ' '., ,
<br />
<br />; i.......-.
<br />
<br />'.', '
<br />
<br />Added by Aets 1993, 73rd Leg.,ch. 268, S l,df. Sept!. 1993.
<br />
<br />
<br />',:':',
<br />
<br />
<br />I-listoricaland Statutory Notes . '. , ". ."
<br />. ~ ; " ,
<br />Prior Laws:' ,'" .Acts' 1989, 7.1st Leg.,ch.693;9 4;, :1.' ,;,.,
<br />Acts 1987,. 70th'teg~;ch.; 88~~' \. ',:: ,'Acts 1989,>71st,Legi;'chi~ 750" 9,1.<..;' ".I,,,;',~,;
<br />Acts 1989,:7.1st'Leg:,;'ch;"~9,'9: i. ..::;., .. uVern'on's'Ann.Civ.St;.:.art::842a'-2;':9 2(a)j(c)::i
<br />Acts~ 1989/7.1sf;Leg:,';',j;:h."''628/ 9' l.,.~,..l: I. . ,C)';d~'_:, 011 ;u,:d' ~~I}'. :~ldj ,1(;, \
<br />J1W
<br />
<br />
<br />.' ,......-- - ~"...' ,~..."....,........ ''''---'...' .., .' ,.._~ ~.".;., ~..., :. . . '- ,.-.,' ,-. '-'. .. .. "'; :.. . - . - .'.- . ., :.: ':- .,:;
<br />
<br />-:-.-:-'..r.-....,...~,.._
<br />
<br />,..,'........, :",-'" ..~.- '. ., .,~' ..~-'": :'.T":"'" -:-0 ..-_,.._.-.;""_....~.:-.... .
<br />
<br />:--~,,'.
<br />
|