Sec. 124.351.  PERMITTED INVESTMENTS.  (a)  A credit union may invest money not used in loans to members in:
(1)  capital shares, obligations, participation certificates, or common or preferred stock of an agency, association, or company, subject to Section 124.352(a);
(2)  loans to a national or state credit union association or corporation of which the credit union is a member;
(3)  obligations, bonds, notes, or other evidences of indebtedness of a state or political subdivision of a state;
(4)  certificates of deposit or other accounts issued by a state or national bank, savings and loan association, savings association, or mutual savings bank;
(5)  securities, obligations, participations, or other instruments of or issued by the United States, or in a trust established for investing directly or collectively in those investments;
(6)  loans to, shares of, or deposits in another credit union, a central credit union, a corporate credit union, a central liquidity facility established under state or federal law, a trust, or an organization established for lending directly or collectively to credit unions;
(7)  securities, obligations, participations, or other instruments fully or partially guaranteed as to principal, interest, or both by the United States, or in a trust established for investing directly or collectively in those investments;
(8)  participation loans with another credit union, corporation, credit organization, or financial organization;
(9)  notes receivable, loans to members, or other assets of a credit union operating under this subtitle  or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.);  and
(10)  other investments authorized by rules adopted by the commission that satisfy Subsection (b).
(b)  A rule adopted under Subsection (a)(10) must be responsive to:
(1)  changes in economic conditions or competitive practices;  and
(2)  the need for safety and soundness of credit union investments.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.