Tex. Gov't Code § 2257.022 · Subchapter B. DEPOSITORY; SECURITY FOR DEPOSIT OF PUBLIC FUNDS
AMOUNT OF COLLATERAL.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Subsection (b), the total value of eligible security to secure a deposit of public funds must be in an amount not less than the amount of the deposit of public funds:
(1) increased by the amount of any accrued interest; and
(2) reduced to the extent that the United States or an instrumentality of the United States insures the deposit.
(b) The total value of eligible security described by Section 45.201(4)(D), Education Code, to secure a deposit of public funds of a school district must be in an amount not less than 110 percent of the amount of the deposit as determined under Subsection (a). The total market value of the eligible security must be reported at least once each month to the school district.
(c) The value of a surety bond is its face value.
(d) The value of an investment security is its market value.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 2003, 78th Leg., ch. 201, Sec. 46, eff. Sept. 1, 2003.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2257.htm
- Text hash
- sha256 0eeaa3508d64de862f5a8504bfe25743981768c3aaac46a3998c30605fb479e7
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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