Sec. 1021.159. DEPOSITORY. (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 1021.160(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.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.
Section: Previous 1021.152 1021.153 1021.154 1021.155 1021.156 1021.157 1021.158 1021.159 1021.160 1021.201 1021.202 1021.203 1021.204 1021.205 1021.206 NextLast modified: September 28, 2016