Tex. Water Code § 49.156 · Subchapter E. FISCAL PROVISIONS
DEPOSITORY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board, by order or resolution, shall designate one or more banks or savings associations within the state to serve as the depository for the funds of the district. The board shall not be required to advertise or solicit bids in selecting its depositories.
(b) To the extent that funds in the depository banks or savings associations 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 Chapter 2257, Government Code (Public Funds Collateral Act).
(c) The board may authorize a designated representative to supervise the substitution of securities pledged to secure the district's funds.
Notes and commentary — not statutory text
History
Added by Acts 1995, 74th Leg., ch. 715, 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.49.htm
- Text hash
- sha256 22a00ff2661b96c35711d3383f403175fb75ee2bc5c1e37f447578b9964b8b76
- 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.