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Municipal Corporations 0;� 884.
<br />States C'~ 124.
<br />WESTLAW Topic Nos. 268, 360.
<br />C.J.S. Municipal Corporations § 1881.
<br />C.J.S. States § 225.
<br />2256.010. Authorized Investments: Certificates of Deposit and Share Certificates
<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:
<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;
<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
<br />(3) secured in any other manner and amount provided by law for deposits of the investing entity.
<br />Amended by Acts 1995, 74th Leg., ch. 32, § 1, eff. April 28, 1995; Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1,
<br />1995; Acts 1997, 75th Leg., ch. 1421, § 6, eff. Sept. 1, 1997.
<br /><General Materials (GM) - References, Annotations, or Tables>
<br />HISTORICAL AND STATUTORY NOTES
<br />2000 Main Volume
<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. (1), added "or the National Credit Union Share Insurance Fund or
<br />its successor ".
<br />Acts 1997, 75th Leg., ch. 1421, in the introductory language, substituted "bank" for "and loan association ".
<br />For application provisions of Acts 1997, 75th Leg., ch. 1421, see notes following V.T.C.A., Government Code
<br />2256.002.
<br />Prior Laws:
<br />Acts 1987, 70th Leg., ch. 889.
<br />Acts 1989, 71st Leg., ch. 39, § 1.
<br />Acts 1989, 71st Leg., ch. 628, § 1.
<br />Acts 1989, 71st Leg., ch. 693, § 4.
<br />Acts 1989, 71st Leg., ch. 750, § 1.
<br />Vernon's Ann.Civ.St. art. 842a -2, § 2(a).
<br />Acts 1993, 73rd Leg., ch. 268, § 1.
<br />V.T.C.A., Government Code § 2256.007.
<br />Municipal Corporations 0:� 884.
<br />LIBRARY REFERENCES
<br />2000 Main Volume
<br />Copr. m West 2001 No Claim to Orig. U.S. Govt. Works
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