A credit union may act as agent or depository of and accept for deposit the money of:

1. (1) the United States or an agent or instrumentality of the United States;
2. (2) this or another state; or

3. (3) a political subdivision of this or another state, including:

   1. (A) a municipality;
   2. (B) a county;
   3. (C) a school district; or
   4. (D) another taxing authority.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.