Bill Text: TX HB2103 | 2011-2012 | 82nd Legislature | Enrolled
Bill Title: Relating to the consideration of a letter of credit issued by a federal home loan bank as an eligible security for collateral to secure public funds.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2011-06-17 - Effective immediately [HB2103 Detail]
Download: Texas-2011-HB2103-Enrolled.html
H.B. No. 2103 |
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relating to the consideration of a letter of credit issued by a | ||
federal home loan bank as an eligible security for collateral to | ||
secure public funds. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 2257.002(4), Government Code, is amended | ||
to read as follows: | ||
(4) "Eligible security" means: | ||
(A) a surety bond; | ||
(B) an investment security; | ||
(C) an ownership or beneficial interest in an | ||
investment security, other than an option contract to purchase or | ||
sell an investment security; | ||
(D) a fixed-rate collateralized mortgage | ||
obligation that has an expected weighted average life of 10 years or | ||
less and does not constitute a high-risk mortgage security; [ |
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(E) a floating-rate collateralized mortgage | ||
obligation that does not constitute a high-risk mortgage security; | ||
or | ||
(F) a letter of credit issued by a federal home | ||
loan bank. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2011. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 2103 was passed by the House on May | ||
11, 2011, by the following vote: Yeas 149, Nays 0, 1 present, not | ||
voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 2103 was passed by the Senate on May | ||
24, 2011, by the following vote: Yeas 31, Nays 0 | ||
. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: _____________________ | ||
Date | ||
_____________________ | ||
Governor |