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<br />~ 2256~01r'
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<br />GENERAL GOVEr \lENT
<br />Ch. 2256
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<br />~,2256.009. Authorized Investments: Bankers' Acceptances,. ,
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<br />A bankers' acceptance is an authorized investrnent tinder this ;ubchapter' if '
<br />, the bankers' acceptance: .
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<br />(1) has a stated rnaturity of 270 days or fewer from the date 'of its' issuance;
<br />(2) will be, in accordance With its terms. liquidated in full at i:riatu'dty; ,',...
<br />(3) is eligible for collateral for borrowing frorn a Federal, ReserVc:Bank; ,
<br />'and '
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<br />(4) is accept~d by a bank organized and existing under the laws of the
<br />"United States or any state, if the short-term obligatio'ns of the bank, or of a
<br />, bank holding company of which the bank is the largest subsidiary, are ra.ted
<br />. 'nbi' less 'thariA~ 1 orP-l or ari equivalent rating by at lea.st 6ne' ~'Uitiorhlly
<br />recognized credit rating agency. ", ""::"."":":-;":'~,"'"
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<br />i Added by Acts 1993, 73rd Leg., ch;' 268, S '1, ert Sept. I, 15>93.:.
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<br />Historical and Statutory' Notes
<br />," . Acts 1989, 71stLeg., ch. 693,~, 4:.'" "".,
<br />Acts 1989, 71stLeg'.;ch. 750,'09:1.-:', :"!~!
<br />Vernon's . Ann.Civ.St. art. 842a:"'2, '~ 2(a);' ec).
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<br />Prior Laws:
<br />" Acts 1987, 70thLeg.;ch. 889.
<br />Acts 1989, 71st Leg., ch. 39, ~ 1.
<br />Acts 1989, 71st Leg" ch, 628, ~ 1.
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<br />~,2256.010. Authorized Investments: Commercial Paper
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<br />, ,Commerchll paper is an authorized investrnent under this subchapter if the
<br />commercial paper: .' ," .. ".
<br />I'i' -.' .". ' - . " ." . ...'
<br />,: '(1) has a stated maturity of 270 days or fewedrorn the date,of its issuance;
<br />and
<br />(2) is rated not less' than A-lor P-I or an equivalent rating by at least:
<br />(A) two nationally recognized credit rating agencies; or
<br />(B) one nationally recognized credit rating agency and is fully secun~dby
<br />: ;, an. irrevocable letter of credit issuedby, a,bank, organized, and existing:
<br />r",under the' laws ,of the .United States or, any state" ", " . '"': ' ',' ";",;
<br />Added by Acts 1993, 73rdLeg., ch.,268, s I, err..Sept. I, 1993. .,..,.,..1;
<br />
<br />';1,':-
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<br />Historical ~ndStaiutory Notes ' " " .
<br />'Ai:ts'1989;71~tLeg.;ch. 693, !H>
<br />Acts 1989, 71st Leg., ch.. 750, ~ 1;,:
<br />Vernon's Ann.Civ.St. art. 842a-2,. ~ 2(a).
<br />. 1.'
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<br />Prior' Law~:
<br />. . Acts 1987, 70th Leg., ch. 889.
<br />:',1 ,Acts 1989,71stLeg., ch. 39, 9 1.
<br />"'Acts 1989; 71st Leg., ch: 628, 9 1.
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<br />~ 2256.011. 'Authorized Investments: , Mutual Funds. '
<br />Ij" t 1
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<br />(a) A no-load money market mutual fund is an authorized investment'imder
<br />this subchapterjfthe,mutual fund: ':, ;'!I :'../,!;
<br />(1) is registered with the Securities and Exchange Cornrnission;,' I)'io,(:
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<br />'! (2) has a dollar-weighted average portfolio maturityof.'120;days:orJe'wer;'"
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