Texas Health and Safety Code 301.010 – Bonds as Investments
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Terms Used In Texas Health and Safety Code 301.010
- 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.
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.
Bonds issued by a hospital laundry cooperative association under this subchapter are legal and authorized investments for:
(1) a bank;
(2) a savings and loan association;
(3) an insurance company;
(4) a fiduciary;
(5) a trustee; and
(6) a sinking fund of a municipality, county, school district, or other political subdivision or corporation of the state or other public fund of the state or a state agency, including the permanent school fund.