Tex. Spec. Dist. Local Laws Code § 21.354 · Subchapter H. GENERAL FINANCIAL PROVISIONS
DEPOSITORY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board shall name one or more banks to serve as depository for the district's money.
(b) District money, other than money transmitted to a bank for payment of bonds issued by the district, shall be deposited as received with the depository bank and shall remain on deposit.
(c) Before the district deposits money 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 provide other security in an amount sufficient to secure from loss the amount of the district's deposits that exceed the amount secured by the Federal Deposit Insurance Corporation.
(d) This section does not limit the board's power to invest the district's money as provided by Subchapter A, Chapter 2256, Government Code.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.21.htm
- Text hash
- sha256 42707b4b8f73bb9cc68fb6462d786a45527ea48fc1cfbfe8bd2b1a47383d5d13
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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