Texas § 116.024 SELECTION OF DEPOSITORIES AND SUBDEPOSITORIES.

Texas Statutes

§ 116.024 — SELECTION OF DEPOSITORIES AND SUBDEPOSITORIES.

Texas § 116.024

Code LGLocal Government Code

This text of Texas § 116.024 (SELECTION OF DEPOSITORIES AND SUBDEPOSITORIES.) 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. Local Government Code Code Ann. § 116.024 (2026).

Text

Sec. 116.024. SELECTION OF DEPOSITORIES AND SUBDEPOSITORIES.

(a)At the meeting at which banks are to be selected as county depositories, the commissioners court shall:

(1)enter in the minutes of the court all applications filed with the county judge;

(2)consider all applications; and

(3)select the qualified applicants that offer the most favorable terms and conditions for the handling of the county funds.

(b)The commissioners court may reject those applicants whose management or condition, in the opinion of the commissioners court, does not warrant placing county funds in their possession.

(c)After selecting one or more county depositories, the commissioners court shall immediately return the certified checks of the rejected applicants. The commissioners court shall return the check

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

Sec. 116.024. SELECTION OF DEPOSITORIES AND SUBDEPOSITORIES. (a) At the meeting at which banks are to be selected as county depositories, the commissioners court shall:
(1) enter in the minutes of the court all applications filed with the county judge;
(2) consider all applications; and
(3) select the qualified applicants that offer the most favorable terms and conditions for the handling of the county funds.
(b) The commissioners court may reject those applicants whose management or condition, in the opinion of the commissioners court, does not warrant placing county funds in their possession.
(c) After selecting one or more county depositories, the commissioners court shall immediately return the certified checks of the rejected applicants. The commissioners court shall return the check of a successful applicant when the applicant executes and files a depository bond that is approved by the commissioners court.
(d) The conflict of interests provisions of Section 131.903 apply to the selection of the depositories.
(e) After selecting one or more subdepositories, the commissioners court shall immediately notify each selected applicant of its selection. Within 15 days, the selected applicant must file a bond or other security as approved by the commissioners court.

Legislative History

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1991, 72nd Leg., ch. 527, Sec. 4, 5, eff. Sept. 1, 1991; Acts 1993, 73rd Leg., ch. 268, Sec. 29, eff. Sept. 1, 1993. Amended by: Acts 2007, 80th Leg., R.S., Ch. 899 (H.B. 2641 ), Sec. 4, eff. June 15, 2007.