{"data":{"id":"us-tx/tex.-government-code-2256.020","jurisdiction":"us-tx","citation":"Tex. Government Code § 2256.020","heading":"AUTHORIZED INVESTMENTS: INSTITUTIONS OF HIGHER EDUCATION.","body":"In addition to the authorized investments permitted by this subchapter, an institution of higher education may purchase, sell, and invest its funds and funds under its control in the following:\n(1) cash management and fixed income funds sponsored by organizations exempt from federal income taxation under Section 501(f), Internal Revenue Code of 1986 (26 U.S.C. Section 501(f));\n(2) negotiable certificates of deposit issued by a bank that has a certificate of deposit rating of at least 1 or the equivalent by a nationally recognized credit rating agency or that is associated with a holding company having a commercial paper rating of at least A-1, P-1, or the equivalent by a nationally recognized credit rating agency; and\n(3) corporate bonds, debentures, or similar debt obligations rated by a nationally recognized investment rating firm in one of the two highest long-term rating categories, without regard to gradations within those categories.\nAdded by Acts 1995, 74th Leg., ch. 402, Sec. 1, eff. Sept. 1, 1995.","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#2256.020","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:16Z","sha256":"fc0d2840d1ac12df9843f25df90059ea7bf923d16ada4af36783595bf4b9d99f","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-government-code-2256.019","next":"us-tx/tex.-government-code-2256.0201"},"notice":"GroundRules: Original legal text. Not legal advice."}