Texas Statutes
§ 131.005 — STATE FUNDS.
Texas § 131.005
JurisdictionTexas
Code LGLocal Government Code
This text of Texas § 131.005 (STATE 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. Local Government Code Code Ann. § 131.005 (2026).
Text
Sec. 131.005. STATE FUNDS.
(a)The comptroller shall determine the amount of state funds held by a county depository that suspends business or is taken charge of by a state or federal bank regulatory agency. The comptroller may:
(1)contract with a special depository selected by the county authorities as provided by this subchapter for the custody and payment of those funds; and
(2)approve a bond for the deposit contract.
(b)State funds placed in a special depository as provided by Subsection (a) shall bear the average rate of interest received by the state on state funds placed with regularly selected state depositories.
(c)The comptroller may proceed with available legal remedies against a suspended bank that is a depository for state funds if the comptroller considers that action to
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Legislative History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 35, eff. Sept. 1, 1993. Amended by Acts 1999, 76th Leg., ch. 344, Sec. 5.011, eff. Sept. 1, 1999.
Nearby Sections
8
§ 131.001
SPECIAL DEPOSITORY AUTHORIZED.§ 131.002
DUTIES OF SPECIAL DEPOSITORY.§ 131.003
SPECIAL DEPOSITORY CONTRACT.§ 131.004
BOND.§ 131.005
STATE FUNDS.§ 131.901
OUT-OF-STATE DEPOSITORY PROHIBITED.§ 131.903
CONFLICT OF INTEREST.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 131.005, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/LG/131.005.