Sec. 62.153. INSURANCE OF SAVINGS ACCOUNTS

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(a) An association may obtain insurance for its savings accounts from the Federal Deposit Insurance Corporation.
(b) Only if the account is insured by the Federal Deposit Insurance Corporation may a person advertise, represent, or offer to accept a savings account in this state as:
(1) an insured or guaranteed account; or
(2) the savings account of an insured or guaranteed institution.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

                    
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