Tex. Loc. Gov't Code § 116.057 · Subchapter C. SECURITY FOR FUNDS HELD BY DEPOSITORY
CONDITION OF PERSONAL BOND OR CONTRACT FOR SECURITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A personal bond provided or a contract for the pledge of securities under this subchapter must be conditioned that the depository will:
(1) faithfully keep the county funds and faithfully perform all duties and obligations imposed by law on the depository;
(2) pay all checks drawn on a demand deposit account in a depository on presentation by the county treasurer;
(3) pay all checks drawn on a time deposit account on presentation after the expiration of the required period of notice; and
(4) account for the county funds as required by law.
(b) A suit on a personal bond or a contract for securities provided or pledged under this subchapter must be tried in the county for which the depository is selected.
Notes and commentary — not statutory text
History
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.116.htm
- Text hash
- sha256 f48c63bb86c5a142d2b9b2aba33ad5d7a50f61d4194766df52f4e1c57055ed15
- 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
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.