Tex. Local Government Code § 116.057
CONDITION OF PERSONAL BOND OR CONTRACT FOR SECURITIES
Texas · Texas Local Government Code · Status: effective
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- Citation
- Tex. Local Government Code § 116.057, CONDITION OF PERSONAL BOND OR CONTRACT FOR SECURITIES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/689255
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Full text
(a) A personal bond provided or a contract for the pledge of securities under this subchapter must be conditioned that the depository will:
(1) faithfully keep the county funds and faithfully perform all duties and obligations imposed by law on the depository;
(2) pay all checks drawn on a demand deposit account in a depository on presentation by the county treasurer;
(3) pay all checks drawn on a time deposit account on presentation after the expiration of the required period of notice; and
(4) account for the county funds as required by law.
(b) A suit on a personal bond or a contract for securities provided or pledged under this subchapter must be tried in the county for which the depository is selected.