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Texas Special District Local Laws Code

§ 1050.155 — DEPOSITORY

SD § 1050.155Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1050. KNOX COUNTY HOSPITAL DISTRICT · Art. D. GENERAL FINANCIAL PROVISIONS

Statute text

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(a)The board by resolution shall designate a bank as the district's depository. A designated bank serves for two years until a successor is designated.
(b)District money, other than money invested in accordance with Chapter 2256, Government Code, and money transmitted to a bank for payment of bonds or obligations issued by the district, shall be deposited with the district depository.
(c)All district money shall be secured in the manner provided for securing county funds. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009. Amended by:

Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 1040 (H.B. 2907), Sec. 8, eff. June 14, 2013. Acts 2013, 83rd Leg., R.S., Ch. 1040 (H.B. 2907), Sec. 9, eff. June 14, 2013.

Source: Texas Special District Local Laws Code § 1050.155 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.