Texas § 2256.012 AUTHORIZED INVESTMENTS: BANKER'S ACCEPTANCES.

Texas Statutes

§ 2256.012 — AUTHORIZED INVESTMENTS: BANKER'S ACCEPTANCES.

Texas § 2256.012

Code GVGovernment Code

This text of Texas § 2256.012 (AUTHORIZED INVESTMENTS: BANKER'S ACCEPTANCES.) 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. Government Code Code Ann. § 2256.012 (2026).

Text

Sec. 2256.012. AUTHORIZED INVESTMENTS: BANKER'S ACCEPTANCES. A bankers' acceptance is an authorized investment under this subchapter if the bankers' acceptance:

(1)has a stated maturity of 270 days or fewer from the date of its issuance;

(2)will be, in accordance with its terms, liquidated in full at maturity;

(3)is eligible for collateral for borrowing from a Federal Reserve Bank; and

(4)is accepted by a bank organized and existing under the laws of the United States or any state, if the short-term obligations of the bank, or of a bank holding company of which the bank is the largest subsidiary, are rated not less than A-1 or P-1 or an equivalent rating by at least one nationally recognized credit rating agency.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 2256.012. AUTHORIZED INVESTMENTS: BANKER'S ACCEPTANCES. A bankers' acceptance is an authorized investment under this subchapter if the bankers' acceptance:
(1) has a stated maturity of 270 days or fewer from the date of its issuance;
(2) will be, in accordance with its terms, liquidated in full at maturity;
(3) is eligible for collateral for borrowing from a Federal Reserve Bank; and
(4) is accepted by a bank organized and existing under the laws of the United States or any state, if the short-term obligations of the bank, or of a bank holding company of which the bank is the largest subsidiary, are rated not less than A-1 or P-1 or an equivalent rating by at least one nationally recognized credit rating agency.