Sec. 21.06.  INTANGIBLE PROPERTY GENERALLY.  (a)  Except as provided by Sections 21.07 through 21.09 of this code, intangible property is taxable by a taxing unit if the owner of the property resides in the unit on January 1, unless the property normally is used in this state for business purposes outside the unit.  In that event, the intangible property is taxable by each taxing unit in which the property normally is used for business purposes.
(b)  Depositing intangible property with an agency of the state pursuant to a law requiring or authorizing the deposit is not using it for a business purpose at the depository.
Acts 1979, 66th Leg., p. 2248, ch. 841, Sec. 1, eff. Jan. 1, 1982.