A deposit must consist of funds in the form of:
  (1) money of the United States including certificates of deposit issued by a qualified financial institution, but the amount of total deposits by the approved PEO in the qualified financial institution may not exceed the greater of:
    (A) the limits of federal insurance coverage for the deposits; or
    (B) ten percent of the issuing qualified financial institution's net worth, provided that its net worth is in excess of $25 million;
  (2) bonds of Texas;
  (3) bonds or other evidences of indebtedness of the United States that are guaranteed as to principal and interest by the United States government; or
  (4) bonds or other interest-bearing evidences of indebtedness of a county or municipality of this state.

Source Note: The provisions of this §13.563 adopted to be effective May 17, 2016, 41 TexReg 3479