Tex. Loc. Gov't Code § 105.011 · Subchapter B. ESTABLISHMENT OF DEPOSITORY
DEPOSITORY AUTHORIZED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Before awarding a depository services contract to a depository, the governing body of a municipality shall receive applications for the performance of depository services from one or more banks, credit unions, or savings associations.
(b) The governing body may consider the application of a bank, credit union, or savings association that is not doing business within the municipality if:
(1) the bank, credit union, or savings association maintains a place of business within the state and offers within the state the services required by the depository services contract; and
(2) the governing body, prior to giving the notice required by Section 105.012, has adopted a written policy expressly permitting the consideration of applications received by the municipality from a bank, credit union, or savings association that is not doing business within the municipality, after taking into consideration what is in the best interest of the municipality in establishing a depository.
(c) The designated officer shall request, receive, and review applications for the performance of depository services. The designated officer shall present the specifications of each application to the governing body who will then select a depository.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1989, 71st Leg., ch. 1, Sec. 14(a), eff. Aug. 28, 1989; Acts 1993, 73rd Leg., ch. 234, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.105.htm
- Text hash
- sha256 17628499bc48ffe68a9a4f45e1cd7c6273ef41eb0bf89747921cdab37fe93367
- 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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