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<br />Municipal Corporations €;:;;;> 884.
<br />States ~ 124.
<br />WESTLA W Topic Nos. 268, 360.
<br />c.r.s. Municipal Corporations ~ 188l.
<br />c.r.s. States ~ 225.
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<br />* 2256.0 I O. Authorized investments: Certificates of Deposit and Share Certiticates
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<br />A certificate of deposit is an authorized investment under this subchapter if the certificate is issued by a state or
<br />national bank domiciled in this state, a savings bank domiciled in this state, or a state or federal credit union
<br />domiciled in this state and is:
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<br />(1) guaranteed or insured by the Federal Deposit Insurance Corporation or its successor or the National Credit
<br />Union Share Insurance Fund or its successor;
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<br />(2) secured by obligations that are described by Section 2256.009(a), including mortgage backed securities directly
<br />issued by a federal agency or instrumentality that have a market value of not less than the principal amount of the
<br />certificates, but excluding those mortgage backed securities of the nature described by Section 2256.009(b); or
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<br />(3) secured in any other manner and amount provided by law for deposits of the investing entity.
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<br />Amended by Acts 1995, 74th Leg., ch. 32, ~ I, eff. April 28. 1995; Acts 1995, 74th Leg., ch. 402, ~ I, eff. Sept. I,
<br />1995; Acts 1997, 75th Leg., ch. 1421, ~ 6, eff. Sept. I, 1997.
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<br /><General Materials (GM) - References, Annotations. or Tables>
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<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
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<br />Acts 1995, 74th Leg., ch. 32, in the section heading, added "and share certificates"; in the introductory paragraph,
<br />inserted "or share certificate", following "the certificate", deleted "of deposit", and inserted ", or a state or federal
<br />credit union domiciled in this state"; and in subd. (I), added "or the National Credit Union Share Insurance Fund or
<br />its successor".
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<br />Acts 1997, 75th Leg., ch. 1421, in the introductory language, substituted "bank" for "and loan association".
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<br />For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.C.A.. Government Code *
<br />2256.002.
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<br />Prior Laws:
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts t989, 71st Leg., ch. 39, ~ l.
<br />Acts 1989, 7lst Leg., ch. 628, ~ l.
<br />Acts 1989, 7IstLeg.,ch. 693, H.
<br />Acts 1989, 7IstLeg.,ch. 750, ~ l.
<br />Vernon's Ann.Civ.St. art. 842a-2, * 2(a).
<br />Acts 1993, 73rd Leg., ch. 268, ~ l.
<br />V.T.CA. Government Code * 2256.007.
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<br />LIBRARY REFERENCES
<br />2000 Main Volume
<br />
<br />Municipal Corporations ~ 884.
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<br />Copr. @West2001 No Claim to Orig. U.S. Govt. Works
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