Tex. Loc. Gov't Code § 271.051 · Subchapter C. CERTIFICATE OF OBLIGATION ACT
CERTIFICATES AS INVESTMENTS OR AS SECURITY FOR DEPOSITS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Certificates approved by the attorney general are legal and authorized investments for:
(1) banks, savings banks, trust companies, and savings and loan associations;
(2) insurance companies;
(3) fiduciaries, trustees, and guardians; and
(4) sinking funds of municipalities, counties, school districts, or other political corporations or subdivisions of the state.
(b) Certificates approved by the attorney general are eligible to secure deposits of public funds of the state or a municipality, county, school district, or other political corporation or subdivision of the state. The certificates are sufficient security for the deposits to the extent of the face value of the certificates, if accompanied by any appurtenant unmatured interest coupons.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.271.htm
- Text hash
- sha256 9036e869c7d8c94fe353a578661a3b49318e8c2edb1b717642d50243a0806605
- 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.