Texas Government Code 1201.041 – Public Security as Negotiable Instrument and Investment Security
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 1201.041
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.
A public security is:
(1) a negotiable instrument;
(2) an investment security to which Chapter 8, Business & Commerce Code, applies; and
(3) a legal and authorized investment for:
(A) an insurance company;
(B) a fiduciary or trustee; or
(C) a sinking fund of a municipality or other political subdivision or public agency of this state.