Texas Government Code 2257.002 – Definitions
Terms Used In Texas Government Code 2257.002
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Statute: A law passed by a legislature.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
In this chapter:
(1) “Bank holding company” has the meaning assigned by § 31.002(a), Finance Code.
(2) “Control” has the meaning assigned by § 31.002(a), Finance Code.
(3) “Deposit of public funds” means public funds of a public entity that:
(A) the comptroller does not manage under Chapter 404; and
(B) are held as a demand or time deposit by a depository institution expressly authorized by law to accept a public entity’s demand or time deposit.
(4) “Eligible security” means:
(A) a surety bond;
(B) an investment security;
(C) an ownership or beneficial interest in an investment security, other than an option contract to purchase or sell an investment security;
(D) a fixed-rate collateralized mortgage obligation that has an expected weighted average life of 10 years or less and does not constitute a high-risk mortgage security;
(E) a floating-rate collateralized mortgage obligation that does not constitute a high-risk mortgage security; or
(F) a letter of credit issued by a federal home loan bank.
(5) “Investment security” means:
(A) an obligation that in the opinion of the attorney general of the United States is a general obligation of the United States and backed by its full faith and credit;
(B) a general or special obligation issued by a public agency that is payable from taxes, revenues, or a combination of taxes and revenues; or
(C) a security in which a public entity may invest under Subchapter A, Chapter 2256.
(6) “Permitted institution” means:
(A) a Federal Reserve Bank;
(B) a clearing corporation, as defined by § 8.102, Business & Commerce Code;
(C) a bank eligible to be a custodian under § 2257.041; or
(D) a state or nationally chartered bank that is controlled by a bank holding company that controls a bank eligible to be a custodian under § 2257.041.
(7) “Public agency” means a state or a political or governmental entity, agency, instrumentality, or subdivision of a state, including a municipality, an institution of higher education, as defined by § 61.003, Education Code, a junior college, a district created under Article XVI, § 59, of the Texas Constitution, and a public hospital.
(8) “Public entity” means a public agency in this state, but does not include an institution of higher education, as defined by § 61.003, Education Code.
(9) “State agency” means a public entity that:
(A) has authority that is not limited to a geographic portion of the state; and
(B) was created by the constitution or a statute.
(10) “Trust receipt” means evidence of receipt, identification, and recording, including:
(A) a physical controlled trust receipt; or
(B) a written or electronically transmitted advice of transaction.