28 Tex. Admin. Code § 13.563 - Form of Deposit
A deposit must consist of funds in the form of:
(1) money of the United States including
certificates of deposit issued by a qualified financial institution, but the
amount of total deposits by the approved PEO in the qualified financial
institution may not exceed the greater of:
(A)
the limits of federal insurance coverage for the deposits; or
(B) ten percent of the issuing qualified
financial institution's net worth, provided that its net worth is in excess of
$25 million;
(2) bonds
of Texas;
(3) bonds or other
evidences of indebtedness of the United States that are guaranteed as to
principal and interest by the United States government; or
(4) bonds or other interest-bearing evidences
of indebtedness of a county or municipality of this state.
Notes
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