Tex. Special District Local Laws Code § 1026.159
DEPOSITORY
Texas · Texas Special District Local Laws Code · Status: effective
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- Citation
- Tex. Special District Local Laws Code § 1026.159, DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/586233
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Full text
(a) The board shall select one or more banks inside or outside the district to serve as a depository for district money.
(b) District money, other than money invested as provided by Section 1026.160(b) and money transmitted to a bank for payment of bonds or obligations issued by the district, shall be deposited as received with the depository bank and shall remain on deposit.
(c) This chapter, including Subsection (b), does not limit the power of the board to place a part of district money on time deposit or to purchase certificates of deposit.