Texas § 116.027 SELECTION OF NONAPPLICANT DEPOSITORY.

Texas Statutes

§ 116.027 — SELECTION OF NONAPPLICANT DEPOSITORY.

Texas § 116.027

Code LGLocal Government Code

This text of Texas § 116.027 (SELECTION OF NONAPPLICANT 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. Local Government Code Code Ann. § 116.027 (2026).

Text

Sec. 116.027. SELECTION OF NONAPPLICANT DEPOSITORY.

(a)If no application to be a county depository is submitted, or if all of the applications are declined, the commissioners court shall deposit the funds of the county with any one or more banks in the county or in the adjoining counties in the amounts and for the periods as the commissioners court considers advisable.

(b)A bank that receives deposits under this section shall provide security in the manner and form, and subject to the same conditions, as is required for a depository of county funds. The penalty of the security must at least equal the total amount of county funds deposited with the bank.

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

Sec. 116.027. SELECTION OF NONAPPLICANT DEPOSITORY. (a) If no application to be a county depository is submitted, or if all of the applications are declined, the commissioners court shall deposit the funds of the county with any one or more banks in the county or in the adjoining counties in the amounts and for the periods as the commissioners court considers advisable.
(b) A bank that receives deposits under this section shall provide security in the manner and form, and subject to the same conditions, as is required for a depository of county funds. The penalty of the security must at least equal the total amount of county funds deposited with the bank.