Tex.
Fin. Code Section 124.351
Permitted Investments
(a)
A credit union may invest money not used in loans to members in:(1)
capital shares, obligations, participation certificates, or common or preferred stock of an agency, association, or company, subject to Section 124.352 (Limitations on Investments)(a);(2)
loans to a national or state credit union association or corporation of which the credit union is a member;(3)
obligations, bonds, notes, or other evidences of indebtedness of a state or political subdivision of a state;(4)
certificates of deposit or other accounts issued by a state or national bank, savings and loan association, savings association, or mutual savings bank;(5)
securities, obligations, participations, or other instruments of or issued by the United States, or in a trust established for investing directly or collectively in those investments;(6)
loans to, shares of, or deposits in another credit union, a central credit union, a corporate credit union, a central liquidity facility established under state or federal law, a trust, or an organization established for lending directly or collectively to credit unions;(7)
securities, obligations, participations, or other instruments fully or partially guaranteed as to principal, interest, or both by the United States, or in a trust established for investing directly or collectively in those investments;(8)
participation loans with another credit union, corporation, credit organization, or financial organization;(9)
notes receivable, loans to members, or other assets of a credit union operating under this subtitle or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.); and(10)
other investments authorized by rules adopted by the commission that satisfy Subsection (b).(b)
A rule adopted under Subsection (a)(10) must be responsive to:(1)
changes in economic conditions or competitive practices; and(2)
the need for safety and soundness of credit union investments.
Source:
Section 124.351 — Permitted Investments, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.124.htm#124.351 (accessed May 11, 2024).
