Tex. Gov't Code Section 2256.013
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.
Amended by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 1133 (H.B. 2706), Sec. 2, eff. September 1, 2019.

Source: Section 2256.013 — Authorized Investments: Commercial Paper, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­2256.­htm#2256.­013 (accessed Jun. 5, 2024).

2256.001
Short Title 2256.002
Definitions 2256.003
Authority to Invest Funds 2256.004
Applicability 2256.005
Investment Policies 2256.006
Standard of Care 2256.007
Investment Training 2256.008
Investment Training 2256.009
Authorized Investments: Obligations Of, or Guaranteed by Governmental Entities 2256.010
Authorized Investments: Certificates of Deposit and Share Certificates 2256.011
Authorized Investments: Repurchase Agreements 2256.012
Authorized Investments: Banker’s Acceptances 2256.013
Authorized Investments: Commercial Paper 2256.014
Authorized Investments: Mutual Funds 2256.015
Authorized Investments: Guaranteed Investment Contracts 2256.016
Authorized Investments: Investment Pools 2256.017
Existing Investments 2256.019
Rating of Certain Investment Pools 2256.020
Authorized Investments: Institutions of Higher Education 2256.021
Effect of Loss of Required Rating 2256.022
Expansion of Investment Authority 2256.023
Internal Management Reports 2256.024
Subchapter Cumulative 2256.025
Selection of Authorized Brokers 2256.026
Statutory Compliance 2256.051
Electronic Funds Transfer 2256.052
Private Auditor 2256.053
Payment for Securities Purchased by State 2256.054
Delivery of Securities Purchased by State 2256.055
Deposit of Securities Purchased by State 2256.0115
Authorized Investments: Securities Lending Program 2256.0201
Authorized Investments 2256.0202
Authorized Investments: Municipal Funds from Management and Development of Mineral Rights 2256.0203
Authorized Investments: Ports and Navigation Districts 2256.0204
Authorized Investments: Independent School Districts 2256.0205
Authorized Investments 2256.0206
Authorized Investments: Hedging Transactions 2256.0207
Authorized Investments: Public Junior College District Funds from Management and Development of Mineral Rights 2256.0208
Local Government Investment of Bond Proceeds and Pledged Revenue
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 2256.013’s source at texas​.gov