{"data":{"id":"us-tx/tex.-government-code-2256.013","jurisdiction":"us-tx","citation":"Tex. Government Code § 2256.013","heading":"AUTHORIZED INVESTMENTS: COMMERCIAL PAPER.","body":"Commercial paper is an authorized investment under this subchapter if the commercial paper:\n(1) has a stated maturity of 365 days or fewer from the date of its issuance; and\n(2) is rated not less than A-1 or P-1 or an equivalent rating by at least:\n(A) two nationally recognized credit rating agencies; or\n(B) one nationally recognized credit rating agency and is fully secured by an irrevocable letter of credit issued by a bank organized and existing under the laws of the United States or any state.\nAdded by Acts 1993, 73rd Leg., R.S., Ch. 268 (S.B. 248), Sec. 1, eff. September 1, 1993.\nAmended by:\nActs 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.\nActs 2019, 86th Leg., R.S., Ch. 1133 (H.B. 2706), Sec. 2, eff. September 1, 2019.","path":["GOVERNMENT CODE","TITLE 10. GENERAL GOVERNMENT","SUBTITLE F. STATE AND LOCAL CONTRACTS AND FUND MANAGEMENT","CHAPTER 2256. PUBLIC FUNDS INVESTMENT","SUBCHAPTER A. AUTHORIZED INVESTMENTS FOR GOVERNMENTAL ENTITIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2256.htm#2256.013","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"ef970993c1e70e4be2ea64b524f3c4b9f4af2a39bf54e5621af90e9774d9786a","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-2256.012","next":"us-tx/tex.-government-code-2256.014"},"notice":"GroundRules: Original legal text. Not legal advice."}