Tex. Finance Code § 36.209
DEPOSITORIES
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 36.209, DEPOSITORIES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/645210
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Full text
(a) The receiver may deposit money collected on behalf of the bank estate in:
(1) the Texas Treasury Safekeeping Trust Company in accordance with procedures established by the comptroller; or
(2) one or more state banks in this state, the deposits of which are insured by the Federal Deposit Insurance Corporation or its successor, if the receiver, using sound financial judgment, determines that it would be advantageous to do so.
(b) If receivership money deposited in an account at a state bank exceeds the maximum insured amount, the receiver shall require the excess deposit to be adequately secured through a pledge of securities or otherwise, without approval of the court. The depository bank may secure the deposits of the bank in liquidation on behalf of the receiver, notwithstanding any other provision of Chapter 11 or 12 or this subtitle.