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(5) at the same time that the funds are deposited and <br />the certificates of deposit are issued for the account of the <br />investing entity, the depository institution selected by the <br />investing entity under Subdivision (1) receives an amount of <br />deposits from customers of other federally insured depository <br />institutions, wherever located, that is equal to or greater than <br />the amount of the funds invested by the investing entity through <br />the depository institution selected under Subdivision (1). <br />Amended by Acts 1995, 74th Leg., ch. 32, Sec. 1, eff. April 28, <br />1995; Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. l, 1995; <br />Acts 1997, 75th Leg., ch. 1421, Sec. 6, eff. Sept. l, 1997; Acts <br />2005, 79th Leg., ch. 128, Sec. l, eff. Sept. l, 2005. <br />Sec. 2256.011. AUTHORIZED INVESTMENTS: REPURCHASE AGREEMENTS. <br />(a) A fully collateralized repurchase agreement is an authorized <br />investment under this subchapter if the repurchase agreement: <br />(1) has a defined termination date; <br />(2) is secured by obligations described by Section <br />2256.009(a)(1); and <br />(3) requires the securities being purchased by the <br />entity to be pledged to the entity, held in the entity's name, and <br />deposited at the time the investment is made with the entity or <br />with a third party selected and approved by the entity; and <br />(4) is placed through a primary government securities <br />dealer, as defined by the Federal Reserve, or a financial <br />Page -21 - <br />