Tex. Health & Safety Code § 265.048 · Subchapter D. JOINT COUNTY-MUNICIPAL HOSPITAL BOARDS
LEGAL INVESTMENTS; SECURITY FOR DEPOSITS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds issued under this subchapter are legal and authorized investments for:
(1) a bank;
(2) a savings bank;
(3) a trust company;
(4) a savings and loan association;
(5) an insurance company;
(6) a fiduciary;
(7) a trustee;
(8) a guardian; and
(9) an interest and sinking fund or other public fund of the state or of an agency, subdivision, or instrumentality of the state, including a municipality, county, school district, special district, public agency, and body politic.
(b) The bonds are eligible and lawful security for the deposits of public funds of the state or of an agency, subdivision, or instrumentality of the state, including a municipality, county, school district, special district, public agency, and body politic. The bonds may secure those deposits in an amount up to the value of the bonds, if accompanied by all appurtenant unmatured interest coupons.
Notes and commentary — not statutory text
History
Acts 1989, 71st Leg., ch. 678, 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/HS/htm/HS.265.htm
- Text hash
- sha256 093d79f6f875ce9435fe24c0016e29224b2d8ae4dc941de07db6fbdc15f7767b
- 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.