Texas § 2116.015 DEPOSITORY ACCOUNT AS LEGAL INVESTMENT.

Texas Statutes

§ 2116.015 — DEPOSITORY ACCOUNT AS LEGAL INVESTMENT.

Texas § 2116.015

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 2116.015 (2026).

Text

Sec. 2116.015. DEPOSITORY ACCOUNT AS LEGAL INVESTMENT.

(a)The following persons may invest the person's money in a depository account by purchasing precious metals and depositing the precious metals with the depository or a depository agent:

(1)an individual or fiduciary, including an administrator, executor, custodian, guardian, or trustee;

(2)a political subdivision of this state or an instrumentality of this state;

(3)a business or nonprofit corporation;

(4)a charitable or educational corporation or association; or

(5)a financial institution, including a bank, savings and loan association, or credit union.

(b)An investment by a school district in a depository account may be made instead of an investment as provided by Section 45.102 , Education Code, and the depository may be use

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Sec. 2116.015. DEPOSITORY ACCOUNT AS LEGAL INVESTMENT. (a) The following persons may invest the person's money in a depository account by purchasing precious metals and depositing the precious metals with the depository or a depository agent:
(1) an individual or fiduciary, including an administrator, executor, custodian, guardian, or trustee;
(2) a political subdivision of this state or an instrumentality of this state;
(3) a business or nonprofit corporation;
(4) a charitable or educational corporation or association; or
(5) a financial institution, including a bank, savings and loan association, or credit union.
(b) An investment by a school district in a depository account may be made instead of an investment as provided by Section 45.102 , Education Code, and the depository may be used by a district instead of a depository bank for the purposes of Subchapter G , Chapter 45 , Education Code.