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Texas Local Government Code

§ 117.125 — TRANSFER OF MONEY

LG § 117.125Title 4. FINANCES · Part B. COUNTY FINANCES · Ch. 117. DEPOSITORIES FOR CERTAIN TRUST FUNDS AND COURT REGISTRY FUNDS · Art. E. SPECIAL PROVISIONS APPLYING TO FUNDS PAID INTO COURT REGISTRY IN COUNTY WITH POPULATION OF MORE THAN 1.3 MILLION

Statute text

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(a)In the absence of a contrary order from a court having jurisdiction over the registry fund, a clerk may transfer money deposited in the fund into a separate account.
(b)A clerk shall transfer all money deposited in a registry fund under Chapter 1355, Estates Code, into a separate account.
(c)Money transferred into a separate account under this section must be:
(1)transferred into an account authorized for investment under Chapter 2256, Government Code, by a local government or investment pool; and
(2)invested according to the investment officer designated under Section 2256.005, Government Code, by the investing entity of which the county is a member.
(d)A transfer of money into a separate account under this section is exempt from the requirements prescribed by Section 117.121 for disbursements from registry funds.
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Legislative history

Acts 2017, 85th Leg., R.S., Ch. 324 (S.B. 1488), Sec. 22.051, eff. September 1, 2017.

Source: Texas Local Government Code § 117.125 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.