A credit union may act as agent or depository of and accept for deposit the money of:
(1) the United States or an agent or instrumentality of the United States;
(2) this or another state; or
(3) a political subdivision of this or another state, including:
(A) a municipality;
(B) a county;
(C) a school district; or
(D) another taxing authority.
Official text of the Texas Finance Code as published by the Texas Legislative Council.