Sec. 172.254. DEPOSITORY. (a) The board by resolution shall name one or more banks for the deposit of district funds.
(b) District funds are public funds and may be invested in securities permitted by Chapter 2256, Government Code.
(c) To the extent district funds are not insured by the Federal Deposit Insurance Corporation or its successor, the funds shall be collateralized in the manner provided for county funds.
Added by Acts 2009, 81st Leg., R.S., Ch. 85 (S.B. 1540), Sec. 2.04, eff. April 1, 2011.
Section: Previous 172.207 172.208 172.209 172.210 172.251 172.252 172.253 172.254 172.255 172.256 172.257 172.301 172.302 172.303 172.304 NextLast modified: September 28, 2016