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Tex. Natural Resources Code § 162.047

BONDS AS INVESTMENTS AND SECURITY

Texas · Texas Natural Resources Code · Status: effective

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Tex. Natural Resources Code § 162.047, BONDS AS INVESTMENTS AND SECURITY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/697068
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(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.