Section 601.036 - Eligibility for Investment(a) A bond is a security in which a public officer or body of the state or a municipality or municipal subdivision, insurance company, bank, trust company, savings and loan association, or investment company may invest.(b) A bond is not eligible for the investment of funds of a trust, estate, or guardianship under the control of an individual fiduciary.(c) A bond may be deposited with a public officer or body of the state or a municipality or municipal subdivision for any purpose for which a bond of the state may be deposited.Tex. Loc. Gov't. Code § 601.036
Renumbered from Local Government Code, Section 431.036 by Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.76(d)(2), eff. 4/1/2009. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. 9/1/1987.