Sec. 2257.023. COLLATERAL POLICY. (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.
Structure Texas Statutes
Subtitle F - State and Local Contracts and Fund Management
Chapter 2257 - Collateral for Public Funds
Subchapter B. Depository; Security for Deposit of Public Funds
Section 2257.021. Collateral Required
Section 2257.022. Amount of Collateral
Section 2257.023. Collateral Policy
Section 2257.024. Contract for Securing Deposit of Public Funds
Section 2257.025. Records of Depository
Section 2257.026. Change in Amount or Activity of Deposits of Public Funds