Tex. Local Government Code § 116.001
DEFINITIONS
Texas · Texas Local Government Code · Status: effective
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- Citation
- Tex. Local Government Code § 116.001, DEFINITIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/689236
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Full text
In this chapter:
(1) "Bank" means a:
(A) bank organized under the laws of this state, another state, or federal law that has its main office or a branch office in this state; or
(B) savings and loan association or savings bank organized under the laws of this state, another state, or federal law that has its main office or a branch office in this state.
(2) "Demand deposit" means a deposit of funds that may be withdrawn on the demand of the depositor.
(3) "Time deposit" means a deposit of funds subject to a contract between the depositor and the depository under which the depositor may not withdraw any of the funds by check or by another manner until the expiration of a certain period following written notice of the depositor's intent to withdraw the funds.
(4) "Subdepository bank" means an authorized bank, other than a depository, that holds demand deposits, not exceeding the Federal Deposit Insurance Corporation's limit, of a district, county, or precinct officer.