Section 1161.003 - Investments That Meet Standard for Investment A guardian of the estate is considered to have exercised the standard required by Section 1161.002(a) with respect to investing the ward's estate if the guardian invests in the following:
(1) bonds or other obligations of the United States;(2) tax-supported bonds of this state;(3) except as limited by Sections 1161.004(b) and (c), tax-supported bonds of a county, district, political subdivision, or municipality in this state;(4) if the payment of the shares or share accounts is insured by the Federal Deposit Insurance Corporation, shares or share accounts of:(A) a state savings and loan association or savings bank that has its main office or a branch office in this state; or(B) a federal savings and loan association or savings bank that has its main office or a branch office in this state;(5) collateral bonds that: (A) are issued by a company incorporated under the laws of this state that has a paid-in capital of $1 million or more;(B) are a direct obligation of the company; and(C) are specifically secured by first mortgage real estate notes or other securities pledged with a trustee;(6) interest-bearing time deposits that may be withdrawn on or before one year after demand in a bank that does business in this state, if the payment of the time deposits is insured by the Federal Deposit Insurance Corporation; or(7) an ABLE account established in accordance with the Texas Achieving a Better Life Experience (ABLE) Program under Subchapter J, Chapter 54, Education Code.Amended by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 938,Sec. 1, eff. 9/1/2017.Added by Acts 2011, 82nd Leg., R.S., Ch. 823, Sec. 1.02, eff. 1/1/2014.