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I I 3150 § 2256.009 GOVERNMENT CODE Title 10 (b) The following are not authorized investments under this section: (1) obligations whose payment represents the coupon pa }menu on the outstanding principal balance of the underlying mortgage- backed security collateral and pays no principal; - (2) obligations .whose payment represents the principal stream -6f cash flow from the underlying mortgage- backed security collateral and bears no inter -. est; (3) collateralized mortgage obligations that have a stated final maturity date of greater than 10 years; and (4) collateralized mortgage obligations the interest rate of which 'is deter- mined by an index that adjusts opposite to the changes in a market index. Amended by Acts 1995, 74th Leg., ch. 402, § 1, eff. Sept. 1. 1995. Historical and Statutory Notes Section 6 of the;. 1995 amendatory act pro- vides: "As provided by Section 1.02, Senate Bill No. 959. (eh. 76) Acts of the 74th Legislature. Rem - lar Session, 1995, this Act controls over Senate Bill No. 959 to the extent of any conflir." Prior Laws: Acts 1987, 70th Le,., ch. 889. Acts 1989, 71st Lee., ch. 39. § 1. Acts 1989. 71st Leg., ch. 623. § 1. Acts 1989, 71st Les., ch. 693. § 4. Acts 1989. 71st Leg., ch. 730. § 1. Acts 1993, 73rd Lee.. ch. 9 =6. § 1. Vernon's Ann.Civ.St. am 842a -2. § 2(a). Acts 1.093. 73rd Leg., eh. 268. § 1. Acts 1993. 73rd Lee.. eh. 820. § 2. Acts 1995. 744th Les., eh. 76. § 5.45(a). M. Acts 1995. 74th Leg., eh. 402. § 5. V.T.C.A., Government Code ? 2256.006. § 2256.010. Authorized Investments: Certificates of Deposit and Share Certificates A certificate of deposit is an authorized investment under this subchapter if the certificate is issued by a state or national bank domiciled in this state, a .: savings bank domiciled in this. state, or a state or federal credit union domiciled in this state and is: (1) guaranteed or insured by the Federal Deposit Insurance Corporation or its successor or the National Credit Union Share Insurance Fund or its successor; (2) secured by obligations that are described by Section 2236.009(a), including mortgage backed securities directly Issued by a federal agency or instrumentality that have a market value of not less than the principal amount of the certificates, but excluding those mortgage backed securities of the nature described by Section 2256.009(b); or (3). secured in any other manner and amount provided by law for deposits of the investing entity. Amended by Acts 1993, 74th Les., ch. 32, § 1, eff. April 28. 1993: Acts 1993, 74th Leg., • ch. 402.'§ 1, eff. Sept. 1, 1993; Acts 1997, 73th Leg:; eh. 14 }l, § 6, eff. Sept. 1. 1997.