Sec. 2116.015.  DEPOSITORY ACCOUNT AS LEGAL INVESTMENT.  (a)  The following persons may invest the person's money in a depository account by purchasing precious metals and depositing the precious metals with the depository or a depository agent:
(1)  an individual or fiduciary, including an administrator, executor, custodian, guardian, or trustee;
(2)  a political subdivision of this state or an instrumentality of this state;
(3)  a business or nonprofit corporation;
(4)  a charitable or educational corporation or association; or
(5)  a financial institution, including a bank, savings and loan association, or credit union.
(b)  An investment by a school district in a depository account may be made instead of an investment as provided by Section 45.102, Education Code, and the depository may be used by a district instead of a depository bank for the purposes of Subchapter G, Chapter 45, Education Code.
Added by Acts 2015, 84th Leg., R.S., Ch. 1000 (H.B. 483), Sec. 1, eff. June 19, 2015.