Texas Finance Code - FIN § 273.303. Primary Account
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(a) Money from the sale of the corporation's securities constitutes the primary account of the corporation.
(b) Money in the primary account may be invested in:
(1) a certificate of deposit or other interest-bearing account in a savings and loan association or commercial bank domiciled in this state; or
(2) securities that:
(A) will mature in not longer than five years;
(B) are issued by the United States government, this state, or a municipality or other governmental entity of this state; and
(C) are direct obligations of or secured by the full faith and credit of the issuer.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 273.303. Primary Account - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-273-303.html
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