Texas § LG.306.053 - BONDS AS NEGOTIABLE INSTRUMENTS AND AUTHORIZED INVESTMENTS
Full text of Texas The Texas Constitution § LG.306.053 — BONDS AS NEGOTIABLE INSTRUMENTS AND AUTHORIZED INVESTMENTS, with citation guidance and answers to common questions.
§ LG.306.053. BONDS AS NEGOTIABLE INSTRUMENTS AND AUTHORIZED INVESTMENTS
BONDS AS NEGOTIABLE INSTRUMENTS AND AUTHORIZED INVESTMENTS. (a) The bonds are negotiable instruments and investment securities governed by Chapter 8 , Business & Commerce Code. (b) The bonds are authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, trustees, and guardians, and for the sinking funds of municipalities, counties, school districts, and other political corporations or subdivisions of the state. (c) The bonds are eligible to secure the deposit of public funds of the state and of municipalities, counties, school districts, and other political corporations or subdivisions of the state, and are sufficient security for those deposits to the extent of their face value if accompanied by all unmatured appurtenant interest coupons. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § LG.306.053
What does The Texas Constitution § LG.306.053 cover?
Section LG.306.053 ("BONDS AS NEGOTIABLE INSTRUMENTS AND AUTHORIZED INVESTMENTS") 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 § LG.306.053?
A common citation format is "The Texas Constitution § LG.306.053" (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 § LG.306.053 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.