Tex. Agric. Code § 58.037 · Subchapter D. BONDS
BONDS AS INVESTMENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The bonds are legal and authorized investments for:
(1) banks;
(2) trust companies;
(3) savings and loan associations;
(4) insurance companies of all kinds and types;
(5) fiduciaries;
(6) trustees;
(7) guardians; and
(8) sinking and other public funds of the state, municipalities, counties, school districts, and other political subdivisions of the state.
(b) The bonds are eligible to secure the deposit of any public funds of the state, municipalities, counties, school districts, or other political subdivisions of the state, and the bonds shall be lawful and sufficient security for the deposits to the extent of their face value when accompanied by all unmatured coupons attached to the bonds.
Notes and commentary — not statutory text
History
Added by Acts 1987, 70th Leg., 2nd C.S., ch. 32, art. 2, Sec. 1, eff. Oct. 20, 1987; Acts 1989, 71st Leg., ch. 1247, Sec. 1, eff. Sept. 1, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/AG/htm/AG.58.htm
- Text hash
- sha256 9e48cf96d18d5714dc10e8e1a7f49223c9b325918aa792092f16911373953564
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.