Section 95.010 - Account As Legal Investment(a) Each of the following persons may invest money held by the person in a deposit account of a savings bank doing business in this state:(1) any fiduciary, including an administrator, executor, guardian, or trustee;(2) a political subdivision or instrumentality of this state;(3) a business or nonprofit corporation;(4) a charitable or educational corporation or association; and(5) a financial institution, including a bank, savings and loan association, or credit union.(b) An investment by an insurance company in a deposit account is eligible for tax reducing purposes under Chapters 221 and 222, Insurance Code.(c) An investment by a school district in a deposit account insured by the Federal Deposit Insurance Corporation meets the requirements of Sections 45.102 and 45.208, Education Code.Amended By Acts 2005, 79th Leg., Ch. 728, Sec. 11.110, eff. 9/1/2005. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.