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Texas Special District Local Laws Code

§ 1034.159 — DEPOSITORY

SD § 1034.159Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1034. HALL COUNTY HOSPITAL DISTRICT · Art. D. GENERAL FINANCIAL PROVISIONS

Statute text

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(a)The board shall select at least one bank to serve as a depository for district money.
(b)District money, other than money invested as provided by Section 1034.160(b) and money transmitted to a bank for payment of bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and shall remain on deposit. This subsection does not limit the power of the board to:
(1)place a part of district money on time deposit; or
(2)purchase certificates of deposit.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.

Source: Texas Special District Local Laws Code § 1034.159 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.