Tex. Spec. Dist. Local Laws Code § 9011.201 · Subchapter E. GENERAL FINANCIAL PROVISIONS
DEPOSITORY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board shall designate one or more banks to serve as depository for the district's money.
(b) District money shall be deposited with a designated depository bank, except that:
(1) money pledged to pay bonds may be deposited with the trustee bank named in the trust indenture; and
(2) money shall be remitted to the bank of payment for the payment of principal of and interest on bonds.
(c) To the extent that money in a depository bank or the trustee bank is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds.
(d) Membership on the board of an officer or director of a bank does not disqualify the bank from being designated as a depository.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.12, 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.9011.htm
- Text hash
- sha256 421ed3bc5555b91dd9105bf4269d2a496fc27afd0664a2cb92dd21b40efed1ab
- 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.