Section 13.563 - Form of DepositA 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;(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.28 Tex. Admin. Code § 13.563
Adopted by Texas Register, Volume 41, Number 20, May 13, 2016, TexReg 3495, eff. 5/17/2016