Texas Local Government Code

§ 117.026 — ADVERTISEMENT FOR AND SELECTION OF DEPOSITORY OUTSIDE THE COUNTY

LG § 117.026Title 4. FINANCES · Part B. COUNTY FINANCES · Ch. 117. DEPOSITORIES FOR CERTAIN TRUST FUNDS AND COURT REGISTRY FUNDS · Art. B. ESTABLISHMENT OF DEPOSITORY

Statute text

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(a)Subject to Sections 116.026 and 116.028, the commissioners court may select a federally insured bank or banks located outside the county to serve as the depository under this subchapter if:

(1)for any reason no bank located in the county applies to be designated as the depository;

(2)an application is not made for the entire amount of the registry funds;

(3)the commissioners court rejects all the applications submitted;

(4)a depository selected by the commissioners court fails to qualify;

(5)a depository becomes insolvent; or

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Legislative history

Acts 2023, 88th Leg., R.S., Ch. 1043 (S.B. 158), Sec. 4, eff. June 18, 2023.