Texas § GV.2116.015 - DEPOSITORY ACCOUNT AS LEGAL INVESTMENT
Full text of Texas The Texas Constitution § GV.2116.015 — DEPOSITORY ACCOUNT AS LEGAL INVESTMENT, with citation guidance and answers to common questions.
§ GV.2116.015. DEPOSITORY ACCOUNT AS LEGAL INVESTMENT
DEPOSITORY ACCOUNT AS LEGAL INVESTMENT. (a) The following persons may invest the person's money in a depository account by purchasing precious metals and depositing the precious metals with the depository or a depository agent: (1) an individual or fiduciary, including an administrator, executor, custodian, guardian, or trustee; (2) a political subdivision of this state or an instrumentality of this state; (3) a business or nonprofit corporation; (4) a charitable or educational corporation or association; or (5) a financial institution, including a bank, savings and loan association, or credit union. (b) An investment by a school district in a depository account may be made instead of an investment as provided by Section 45.102 , Education Code, and the depository may be used by a district instead of a depository bank for the purposes of Subchapter G , Chapter 45 , Education Code. Added by Acts 2015, 84th Leg., R.S., Ch. 1000 (H.B. 483 ), Sec. 1, eff. June 19, 2015.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.2116.015
What does The Texas Constitution § GV.2116.015 cover?
Section GV.2116.015 ("DEPOSITORY ACCOUNT AS LEGAL INVESTMENT") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.2116.015?
A common citation format is "The Texas Constitution § GV.2116.015" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.2116.015 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.