Sec. 123.205. INVESTMENTS AND SECURITIES. (a) In accordance with commission rules, a credit union may:
(1) develop and offer investment programs to its members and depositors; or
(2) act as agent for its members and depositors in the purchase, sale, or other disposition of a security, an interest in a mutual fund, or an interest or participation in any other type of investment.
(b) A credit union may issue and sell securities in connection with an investment program developed and offered under Subsection (a)(1).
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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