Sec. 1201.041. PUBLIC SECURITY AS NEGOTIABLE INSTRUMENT AND INVESTMENT SECURITY. 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.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
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