Texas § 273.303 PRIMARY ACCOUNT.

Texas Statutes

§ 273.303 — PRIMARY ACCOUNT.

Texas § 273.303

Code FIFinance Code

This text of Texas § 273.303 (PRIMARY ACCOUNT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 273.303 (2026).

Text

Sec. 273.303. PRIMARY ACCOUNT.

(a)Money from the sale of the corporation's securities constitutes the primary account of the corporation.

(b)Money in the primary account may be invested in:

(1)a certificate of deposit or other interest-bearing account in a savings and loan association or commercial bank domiciled in this state; or

(2)securities that:

(A)will mature in not longer than five years;

(B)are issued by the United States government, this state, or a municipality or other governmental entity of this state; and

(C)are direct obligations of or secured by the full faith and credit of the issuer.

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Sec. 273.303. PRIMARY ACCOUNT. (a) Money from the sale of the corporation's securities constitutes the primary account of the corporation.
(b) Money in the primary account may be invested in:
(1) a certificate of deposit or other interest-bearing account in a savings and loan association or commercial bank domiciled in this state; or
(2) securities that:
(A) will mature in not longer than five years;
(B) are issued by the United States government, this state, or a municipality or other governmental entity of this state; and
(C) are direct obligations of or secured by the full faith and credit of the issuer.