Texas Statutes
§ 362.042 — LEGAL INVESTMENTS; SECURITY FOR DEPOSITS.
Texas § 362.042
JurisdictionTexas
Code HSHealth and Safety Code
This text of Texas § 362.042 (LEGAL INVESTMENTS; SECURITY FOR DEPOSITS.) 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. Health and Safety Code Code Ann. § 362.042 (2026).
Text
Sec. 362.042. LEGAL INVESTMENTS; SECURITY FOR DEPOSITS.
(a)Bonds issued under this chapter are legal and authorized investments for:
(1)a bank;
(2)a savings bank;
(3)a trust company;
(4)a savings and loan association;
(5)an insurance company;
(6)a fiduciary;
(7)a trustee; and
(8)a sinking fund of a municipality, county, school district, or other political corporation or subdivision of the state.
(b)The bonds may secure the deposits of public funds of the state or a municipality, county, school district, or other political corporation or subdivision of the state. The bonds are lawful and sufficient security for those deposits in an amount up to their face value, if accompanied by all appurtenant unmatured coupons.
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Legislative History
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Nearby Sections
15
§ 362.001
SHORT TITLE.§ 362.002
POLICY AND PURPOSE.§ 362.003
DEFINITIONS.§ 362.004
EFFECT OF OTHER LAW.§ 362.012
LOCATION OF SYSTEM.§ 362.013
CONTRACT TERMS AND PROCEDURES.§ 362.014
PUBLIC AGENCY CONTRACT.§ 362.016
PAYMENT OF CONTRACT FROM TAXES.§ 362.017
INDUSTRIAL DEVELOPMENT CORPORATION.§ 362.019
TAXATION.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 362.042, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/HS/362.042.