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Texas Local Government Code

§ 116.111 — CHARACTER AND AMOUNT OF DEPOSITS

LG § 116.111Title 4. FINANCES · Part B. COUNTY FINANCES · Ch. 116. DEPOSITORIES FOR COUNTY PUBLIC FUNDS · Art. E. DEPOSITORY ACCOUNTS

Statute text

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The commissioners court may determine and designate the character and amount of county funds that will be demand deposits and that will be time deposits. The commissioners court may contract with a depository for interest on time deposits at any legal rate under a federal law or under a rule adopted by the board of governors of the Federal Reserve System or by the board of directors of the Federal Deposit Insurance Corporation.

Legislative history

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Texas Local Government Code § 116.111 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.