Sec. 2257.023. COLLATERAL POLICY

Latest version.

(a) In accordance with a written policy approved by the governing body of the public entity, a public entity shall determine if an investment security is eligible to secure deposits of public funds.
(b) The written policy may include:
(1) the security of the institution that obtains or holds an investment security;
(2) the substitution or release of an investment security; and
(3) the method by which an investment security used to secure a deposit of public funds is valued.

Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.

                    
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