(a) The authority granted by this subchapter is in addition to that granted by other law. Except as provided by Subsection (b) and § 2256.017, this subchapter does not:
(1) prohibit an investment specifically authorized by other law; or
(2) authorize an investment specifically prohibited by other law.
(b) Except with respect to those investing entities described in Subsection (c), a security described in § 2256.009(b) is not an authorized investment for a state agency, a local government, or another investing entity, notwithstanding any other provision of this chapter or other law to the contrary.

Terms Used In Texas Government Code 2256.024

  • 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.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

(c) Mortgage pass-through certificates and individual mortgage loans that may constitute an investment described in § 2256.009(b) are authorized investments with respect to the housing bond programs operated by:
(1) the Texas Department of Housing and Community Affairs or a nonprofit corporation created to act on its behalf;
(2) an entity created under Chapter 392, Local Government Code; or
(3) an entity created under Chapter 394, Local Government Code.

  Previous section
Next section  
 Subchapter A Contents