Texas § 2257.024 CONTRACT FOR SECURING DEPOSIT OF PUBLIC FUNDS.

Texas Statutes

§ 2257.024 — CONTRACT FOR SECURING DEPOSIT OF PUBLIC FUNDS.

Texas § 2257.024

Code GVGovernment Code

This text of Texas § 2257.024 (CONTRACT FOR SECURING DEPOSIT OF PUBLIC FUNDS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 2257.024 (2026).

Text

Sec. 2257.024. CONTRACT FOR SECURING DEPOSIT OF PUBLIC FUNDS.

(a)A public entity may contract with a bank that has its main office or a branch office in this state to secure a deposit of public funds.

(b)The contract may contain a term or condition relating to an investment security used as security for a deposit of public funds, including a term or condition relating to the:

(1)possession of the collateral;

(2)substitution or release of an investment security;

(3)ownership of the investment securities of the bank used to secure a deposit of public funds; and

(4)method by which an investment security used to secure a deposit of public funds is valued.

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Sec. 2257.024. CONTRACT FOR SECURING DEPOSIT OF PUBLIC FUNDS. (a) A public entity may contract with a bank that has its main office or a branch office in this state to secure a deposit of public funds.
(b) The contract may contain a term or condition relating to an investment security used as security for a deposit of public funds, including a term or condition relating to the:
(1) possession of the collateral;
(2) substitution or release of an investment security;
(3) ownership of the investment securities of the bank used to secure a deposit of public funds; and
(4) method by which an investment security used to secure a deposit of public funds is valued.