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Tex. Local Government Code § 105.016

DESIGNATION OF DEPOSITORY

Texas · Texas Local Government Code · Status: effective

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Tex. Local Government Code § 105.016, DESIGNATION OF DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/689003
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(a) The governing body shall designate, by an order recorded in its minutes, the bank, credit union, or savings association to serve as a depository for the municipality's funds. (b) If a bank, credit union, or savings association selected as a municipal depository does not provide security by the deadline prescribed by Section 105.031, the selection of the bank, credit union, or savings association as a depository is void, and the governing body may consider the application it deems to be the next most advantageous depository services application.