Sec. 1052.158. DEPOSITORY. (a) The board shall select one or more banks inside or outside the district to serve as a depository for district money.
(b) District money, other than money invested as provided by Section 1052.159(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.
(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 1052.151 1052.152 1052.153 1052.154 1052.155 1052.156 1052.157 1052.158 1052.159 1052.160 1052.201 1052.202 1052.203 1052.204 1052.205 NextLast modified: September 28, 2016