Tex. Spec. Dist. Local Laws Code § 1098.159 · Subchapter D. GENERAL FINANCIAL PROVISIONS
DEPOSITORY OR TREASURER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board by resolution shall designate one or more banks to serve as the district's depository or treasurer.
(b) District money shall be deposited on receipt with a depository bank, except that sufficient money must be remitted to an appropriate bank to pay the principal of and interest on the district's outstanding bonds, or other obligations assumed by the district, on or before the maturity date of the principal and interest.
(c) Money in the depository bank or banks that is not insured by the Federal Deposit Insurance Corporation must be secured in the manner provided by law for security of county money.
(d) Membership on the district's board of an officer or director of a bank does not disqualify that bank from being designated as depository.
Notes and commentary — not statutory text
History
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1098.htm
- Text hash
- sha256 e6d31dd025ee2808672ada9f745b305af6a6d2836fb263c2722d15d46d191054
- 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.