Sec. 123.205. INVESTMENTS AND SECURITIES. (a) In accordance with commission rules, a credit union may:
(1) develop and offer investment programs to its members and depositors; or
(2) act as agent for its members and depositors in the purchase, sale, or other disposition of a security, an interest in a mutual fund, or an interest or participation in any other type of investment.
(b) A credit union may issue and sell securities in connection with an investment program developed and offered under Subsection (a)(1).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subchapter C. Financial Powers
Section 123.201. Power to Borrow or Lend
Section 123.202. Receipt, Transfer, and Payment of Money
Section 123.203. Acceptance of Money for Deposit From Another Entity
Section 123.204. Action as Agent or Depository of United States or Other Governmental Entity
Section 123.205. Investments and Securities
Section 123.206. Action as Fiscal or Transfer Agent; Transfer of Certain Instruments; Signatures
Section 123.207. Fiduciary Powers
Section 123.208. Dividends and Interest
Section 123.209. Transfer System
Section 123.210. Sale of Certain Instruments or Securities; Fee