Texas Finance Code

§ 124.351 — PERMITTED INVESTMENTS

FI § 124.351Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 124. LOANS AND INVESTMENTS · Art. H. INVESTMENT OF MONEY

Statute text

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(a)A credit union may invest money not used in loans to members in:

(1)capital shares, obligations, participation certificates, or common or preferred stock of an agency, association, or company, subject to Section 124.352(a);

(2)loans to a national or state credit union association or corporation of which the credit union is a member;

(3)obligations, bonds, notes, or other evidences of indebtedness of a state or political subdivision of a state;

(4)certificates of deposit or other accounts issued by a state or national bank, savings and loan association, savings association, or mutual savings bank;

(5)securities, obligations, participations, or other instruments of or issued by the United States, or in a trust established for investing directly or collectively in those investments;

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Legislative history

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.