Tex. Fin. Code § 65.013 · Subchapter A. GENERAL PROVISIONS
ACCOUNT AS LEGAL INVESTMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Each of the following persons may invest money held by the person in a savings account of an association or a federal association:
(1) any fiduciary, including an administrator, executor, guardian, or trustee;
(2) a political subdivision or instrumentality of this state;
(3) an insurance company doing business in this state;
(4) a business or nonprofit corporation;
(5) a charitable or educational corporation or association; and
(6) a financial institution, including a bank or credit union.
(b) An investment by an insurance company in a savings account is eligible for tax reducing purposes under Chapter 221, Insurance Code.
(c) An investment by a school district in a savings account insured by the Federal Deposit Insurance Corporation is considered to meet the requirements of Section 45.102, Education Code.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.109, eff. September 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.65.htm
- Text hash
- sha256 a74c189e90fe5eb46e8651a76da1f1e7735e47d9f732f8aaa8dea5974931564b
- 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
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