Texas § 2208.253 DEPOSITORY.

Texas Statutes

§ 2208.253 — DEPOSITORY.

Texas § 2208.253

Code INInsurance Code

This text of Texas § 2208.253 (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. Insurance Code Code Ann. § 2208.253 (2026).

Text

Sec. 2208.253. DEPOSITORY.

(a)The board may select one or more banks to serve as depository for money in the fund.

(b)A depository bank must execute a bond or provide other security before the pool manager may deposit fund money in the bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation. The bond or other security must be in an amount sufficient to secure the excess amount of the deposit. SUBCHAPTER G. POOL COVERAGE

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Sec. 2208.253. DEPOSITORY. (a) The board may select one or more banks to serve as depository for money in the fund.
(b) A depository bank must execute a bond or provide other security before the pool manager may deposit fund money in the bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation. The bond or other security must be in an amount sufficient to secure the excess amount of the deposit.
SUBCHAPTER G. POOL COVERAGE