Tex. Gov't Code § 2116.015 · Subchapter A. ESTABLISHMENT AND ADMINISTRATION OF TEXAS BULLION DEPOSITORY
DEPOSITORY ACCOUNT AS LEGAL INVESTMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The following persons may invest the person's money in a depository account by purchasing precious metals and depositing the precious metals with the depository or a depository agent:
(1) an individual or fiduciary, including an administrator, executor, custodian, guardian, or trustee;
(2) a political subdivision of this state or an instrumentality of this state;
(3) a business or nonprofit corporation;
(4) a charitable or educational corporation or association; or
(5) a financial institution, including a bank, savings and loan association, or credit union.
(b) An investment by a school district in a depository account may be made instead of an investment as provided by Section 45.102, Education Code, and the depository may be used by a district instead of a depository bank for the purposes of Subchapter G, Chapter 45, Education Code.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 1000 (H.B. 483), Sec. 1, eff. June 19, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2116.htm
- Text hash
- sha256 96d4ee71d217eca1e9b88ef4954b2667af137bd8aa76f3829270dbefd12eb978
- 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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