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Amended by: <br />Acts 2011, 82nd Leg., R.S., Ch. <br />June 17, 2011. <br />Acts 2017, 85th Leg., R.S., Ch. <br />June 14, 2017. <br />Acts 2017, 85th Leg., R.S., Ch. <br />June 15, 2017. <br />Acts 2017, 85th Leg., R.S., Ch. <br />September 1, 2017. <br />Page 16 of 37 <br />1004 (H.B. 2226), Sec. 4, eff. <br />773 (H.B. 1003), Sec. 2, eff. <br />863 (H.B. 2647), Sec. 1, eff. <br />874 (H.B. 2928), Sec. 1, eff. <br />Sec. 2256.010. AUTHORIZED INVESTMENTS: CERTIFICATES OF DEPOSIT <br />AND SHARE CERTIFICATES. (a) A certificate of deposit or share <br />certificate is an authorized investment under this subchapter if the <br />certificate is issued by a depository institution that has its main <br />office or a branch office in this state and is: <br />(1) guaranteed or insured by the Federal Deposit Insurance <br />Corporation or its successor or the National Credit Union Share <br />Insurance Fund or its successor; <br />(2) secured by obligations that are described by Section <br />2256.009(a), including mortgage backed securities directly issued by <br />a federal agency or instrumentality that have a market value of not <br />less than the principal amount of the certificates, but excluding <br />those mortgage backed securities of the nature described by Section <br />2256.000(b); or <br />(3) secured in accordance with Chapter 2257 or in any <br />other manner and amount provided by law for deposits of the investing <br />entity. <br />(b) In addition to the authority to invest funds in <br />certificates of deposit under Subsection (a), an investment in <br />certificates of deposit made in accordance with the following <br />conditions is an authorized investment under this subchapter: <br />(1) the funds are invested by an investing entity through: <br />(A) a broker that has its main office or a branch <br />office in this state and is selected from a list adopted by the <br />investing entity as required by Section 2256.025; or <br />(B) a depository institution that has its main office <br />or a branch office in this state and that is selected by the <br />investing entity; <br />4/18/2018 <br />