Tex. Health & Safety Code § 286.130 · Subchapter F. DISTRICT FINANCES
DEPOSITORY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board shall name at least one bank to serve as depository for district funds.
(b) District funds, other than those invested as provided by Section 286.129(b) and those transmitted to a bank of payment for bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and must remain on deposit. This subsection does not limit the power of the board to place a portion of district funds on time deposit or to purchase certificates of deposit.
(c) Before the district deposits funds in a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation, the bank must execute a bond or other security in an amount sufficient to secure from loss the district funds that exceed the amount secured by the Federal Deposit Insurance Corporation.
Notes and commentary — not statutory text
History
Added by Acts 1991, 72nd Leg., ch. 14, Sec. 121, eff. Sept. 1, 1991.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/HS/htm/HS.286.htm
- Text hash
- sha256 1c97516d1989c59c5bf6bedd4d8bd59c2398e74149bcdce6b5c940fda5ae3e25
- 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
This section cites
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