Tex. Transportation Code § 441.154
DEPOSITORY
Texas · Texas Transportation Code · Status: effective
Cite this
- Citation
- Tex. Transportation Code § 441.154, DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/570596
- Permanent ID
ys:prov:570596@1- SHA-256
03836f25a2dfc45ff4ec3e5545849070dabda78d7cbf941b55b1dd2409bb5787
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) The board shall name one or more banks to serve as depository for district money.
(b) The district shall deposit money, other than money transmitted to a bank of payment for district bonds, with the depository bank as received. The money shall remain on deposit, except that this section does not limit the board's power to invest district money as provided by Section 441.156.
(c) The district may not deposit money in a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation unless the bank executes a bond or provides other security in an amount sufficient to secure from loss district money that exceeds the amount secured by the Federal Deposit Insurance Corporation.