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Texas Natural Resources Code

§ 161.128 — BONDS AS INVESTMENTS AND SECURITY

NR § 161.128Title 7. RESOURCES PROGRAMS · Ch. 161. VETERANS LAND BOARD · Art. D. GENERAL OBLIGATION BONDS

Statute text

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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 for 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.

Legislative history

Acts 1977, 65th Leg., p. 2661, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1993, 73rd Leg., ch. 242, Sec. 1.13, eff. Aug. 30, 1993.

Source: Texas Natural Resources Code § 161.128 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.