Government Code §2256.013

In force on Sep 01, 2019 · this text took effect Sep 01, 2019 · same as today's text

AUTHORIZED INVESTMENTS: COMMERCIAL PAPER

Commercial paper is an authorized investment under this subchapter if the commercial paper: (1) has a stated maturity of 365 days or fewer from the date of its issuance; and (2) is rated not less than A-1 or P-1 or an equivalent rating by at least: (A) two nationally recognized credit rating agencies; or (B) one nationally recognized credit rating agency and is fully secured by an irrevocable letter of credit issued by a bank organized and existing under the laws of the United States or any state.

History: Added by Acts 1993, 73rd Leg., R.S., Ch. 268 (S.B. 248 ), Sec. 1, eff. September 1, 1993. Amended by: Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995. Acts 2019, 86th Leg., R.S., Ch. 1133 (H.B. 2706 ), Sec. 2, eff. September 1, 2019.

Source: the Legislature's file server, seen Sep 20, 2020 to Nov 08, 2026.

Every version on file

Effective Sep 01, 2019 · seen Sep 2020–Nov 2026
Effective Sep 01, 1995 · seen Sep 2018–Aug 2019

Attorney General opinions that cite it

GA-0834 (Jun 10, 2010): Whether a local governmental body subject to the Public Funds Investment Act, chapter 2256, Government Code, may invest in money market and other demand accounts

A research copy. The official text is the Legislature's (statutes), the Secretary of State's (Texas Administrative Code) or eCFR's (federal rules). Not legal advice.