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Texas Special District Local Laws Code

§ 1022.159 — DEPOSITORY

SD § 1022.159Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1022. EAST COKE COUNTY HOSPITAL DISTRICT · Art. D. GENERAL FINANCIAL PROVISIONS

Statute text

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(a)The board shall select one or more banks in the district to serve as a depository for district money.
(b)District money, other than money invested as provided by Section 1022.160(b), and money transmitted to a bank for payment of bonds or obligations issued by the district, shall be deposited as received with the depository bank and shall remain on deposit.
(c)This chapter, including Subsection (b), does not limit the power of the board to place a part of district money on time deposit or to purchase certificates of deposit.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Texas Special District Local Laws Code § 1022.159 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.