Tex. Transp. Code § 451.105 · Subchapter C. MANAGEMENT OF AUTHORITY
DEPOSITORY; DEPOSIT OF FUNDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A board shall designate one or more banks as depositories for authority funds.
(b) All funds of an authority shall be deposited in one or more of the authority's depository banks unless an order or resolution authorizing the issuance of an authority bond or note requires otherwise.
(c) Funds in a depository, to the extent that those funds are not insured by the Federal Deposit Insurance Corporation, shall be secured in the manner provided by law for the security of county funds.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.451.htm
- Text hash
- sha256 e435efbfeb42357d48085ad40baabf410147210143c59f1e01f1b3e8385f9bdd
- 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.