Tex. Water Code § 36.155 · Subchapter E. DISTRICT FINANCES
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 funds.
(b) District funds, other than those 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. This subsection does not limit the power of the board to place a portion of the district's funds on time deposit or to purchase certificates of deposit.
(c) To the extent that funds in the depository are not insured by the Federal Deposit Insurance Corporation, they shall be secured in the manner provided by law for the security of funds by the Public Funds Collateral Act, Chapter 2257, Government Code.
Notes and commentary — not statutory text
History
Added by Acts 1995, 74th Leg., ch. 933, Sec. 2, 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/WA/htm/WA.36.htm
- Text hash
- sha256 ed16d37596aebd9b8f5c3d8ed76537491ab5b5610468d869b663f07733afc40a
- 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.
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.