Texas § 287.130 DEPOSITORY.

Texas Statutes

§ 287.130 — DEPOSITORY.

Texas § 287.130

Code HSHealth and Safety Code

This text of Texas § 287.130 (DEPOSITORY.) 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. Health and Safety Code Code Ann. § 287.130 (2026).

Text

Sec. 287.130. DEPOSITORY.

(a)The board shall name at least one bank to serve as depository for district funds.

(b)District funds, other than those invested as provided by Section 287.129 (b) and those transmitted to a bank of payment for bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and must remain on deposit. This subsection does not limit the power of the board to place a portion of district funds on time deposit or to purchase certificates of deposit.

(c)Before the district deposits funds in a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation, the bank must execute a bond or other security in an amount sufficient to secure from loss the district funds that exceed the

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 287.130. DEPOSITORY. (a) The board shall name at least one bank to serve as depository for district funds.
(b) District funds, other than those invested as provided by Section 287.129 (b) and those transmitted to a bank of payment for bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and must remain on deposit. This subsection does not limit the power of the board to place a portion of district funds on time deposit or to purchase certificates of deposit.
(c) Before the district deposits funds in a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation, the bank must execute a bond or other security in an amount sufficient to secure from loss the district funds that exceed the amount secured by the Federal Deposit Insurance Corporation.