Tex. Nat. Res. Code § 162.047 · Subchapter C. BONDS
BONDS AS INVESTMENTS AND SECURITY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Bonds issued under this chapter are legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians, and the sinking funds of cities, towns, villages, counties, school districts, and other political subdivisions and public agencies of the state.
(b) The bonds are legal and sufficient security for the deposits in the amount of the par value of the bonds.
Notes and commentary — not statutory text
History
Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1. Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 2.14, eff. Aug. 30, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/NR/htm/NR.162.htm
- Text hash
- sha256 84bfca3170daa6540b5599263037d7a556c565bc46c28a5f2a999cf1db201b59
- 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.