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Tex. Local Government Code § 116.028

SUCCESSOR BANK AS COUNTY DEPOSITORY

Texas · Texas Local Government Code · Status: effective

Banking, Finance & Insurance
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Tex. Local Government Code § 116.028, SUCCESSOR BANK AS COUNTY DEPOSITORY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/689246
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(a) If a bank selected to be a county depository and holding county funds is sold to another bank in an adjoining county, the successor bank in the adjoining county may continue to serve as a county depository and apply and be selected as a county depository if the successor bank: (1) continues to have an office in an adjoining county; and (2) timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository. (b) If a bank selected as a county depository and holding county funds closes, a branch of the bank in an adjoining county may continue to serve as a county depository and apply to be a county depository if the successor bank: (1) continues to have an office in an adjoining county; and (2) timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository.