Section 2257.002 - Definitions In this chapter:
(1) "Bank holding company" has the meaning assigned by Section 31.002(a), Finance Code.(2) "Control" has the meaning assigned by Section 31.002(a), Finance Code.(3) "Deposit of public funds" means public funds of a public entity that: (A) the comptroller does not manage under Chapter 404; and(B) are held as a demand or time deposit by a depository institution expressly authorized by law to accept a public entity's demand or time deposit.(4) "Eligible security" means: (B) an investment security;(C) an ownership or beneficial interest in an investment security, other than an option contract to purchase or sell an investment security;(D) a fixed-rate collateralized mortgage obligation that has an expected weighted average life of 10 years or less and does not constitute a high-risk mortgage security;(E) a floating-rate collateralized mortgage obligation that does not constitute a high-risk mortgage security; or(F) a letter of credit issued by a federal home loan bank.(5) "Investment security" means: (A) an obligation that in the opinion of the attorney general of the United States is a general obligation of the United States and backed by its full faith and credit;(B) a general or special obligation issued by a public agency that is payable from taxes, revenues, or a combination of taxes and revenues; or(C) a security in which a public entity may invest under Subchapter A, Chapter 2256.(6) "Permitted institution" means: (A) a Federal Reserve Bank;(B) a clearing corporation, as defined by Section 8.102, Business & Commerce Code;(C) a bank eligible to be a custodian under Section 2257.041; or(D) a state or nationally chartered bank that is controlled by a bank holding company that controls a bank eligible to be a custodian under Section 2257.041.(7) "Public agency" means a state or a political or governmental entity, agency, instrumentality, or subdivision of a state, including a municipality, an institution of higher education, as defined by Section 61.003, Education Code, a junior college, a district created under Article XVI, Section 59, of the Texas Constitution, and a public hospital.(8) "Public entity" means a public agency in this state, but does not include an institution of higher education, as defined by Section 61.003, Education Code.(9) "State agency" means a public entity that:(A) has authority that is not limited to a geographic portion of the state; and(B) was created by the constitution or a statute.(10) "Trust receipt" means evidence of receipt, identification, and recording, including: (A) a physical controlled trust receipt; or(B) a written or electronically transmitted advice of transaction.Tex. Gov't. Code § 2257.002
Amended By Acts 2011, 82nd Leg., R.S., Ch. 783, Sec. 1, eff. 6/17/2011.Amended By Acts 1999, 76th Leg., ch. 62, Sec. 7.63, eff. 9/1/1999.Amended By Acts 1997, 75th Leg., ch. 254, Sec. 1, eff. 9/1/1997Amended By Acts 1997, 75th Leg., ch. 891, Sec. 3.22(4), eff. 9/1/1997Amended By Acts 1997, 75th Leg., ch. 1423, Sec. 8.70, eff. 9/1/1997Amended by Acts 1995, 74th Leg., ch. 76, Sec. 5.48(a), eff. 9/1/1995Amended By Acts 1995, 74th Leg., ch. 914, Sec. 5, eff. 9/1/1995Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. 9/1/1993.