Tex. Government Code § 404.021
ELIGIBLE INSTITUTIONS
Texas · Texas Government Code · Status: effective
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- Citation
- Tex. Government Code § 404.021, ELIGIBLE INSTITUTIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/652234
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Full text
(a) Any state or national bank doing business in the state may be designated by the comptroller as a state depository. Designation of a bank as a depository includes all of the bank's branches within the state.
(b) Any savings and loan association doing business in the state may be designated by the comptroller as a state depository.
(c) Any state or federal credit union doing business in the state may be designated by the comptroller as a state depository.
(d) Deposits of eligible institutions designated as state depositories must be covered by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.