Sec. 2257.023.  COLLATERAL POLICY.  (a)  In accordance with a written policy approved by the governing body of the public entity, a public entity shall determine if an investment security is eligible to secure deposits of public funds.
(b)  The written policy may include:
(1)  the security of the institution that obtains or holds an investment security;
(2)  the substitution or release of an investment security;  and
(3)  the method by which an investment security used to secure a deposit of public funds is valued.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.