Texas Statutes
§ 1009.155 — DEPOSITORY.
Texas § 1009.155
JurisdictionTexas
Code SDSpecial District Local Laws Code
This text of Texas § 1009.155 (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. Special District Local Laws Code Code Ann. § 1009.155 (2026).
Text
Sec. 1009.155. DEPOSITORY.
(a)The board shall select one or more banks in Cochran County to serve as a depository for district money.
(b)All district money shall be immediately deposited on receipt with a depository bank, except that sufficient money must be remitted to the appropriate bank to pay the principal of and interest on the district's outstanding bonds or other obligations on or before the maturity date of the principal and interest.
(c)To the extent that money in a depository bank is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds.
(d)Membership on the district's board of an officer or director of a bank does not disqualify the bank from being selected as a depository.
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Legislative History
Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019 ), Sec. 1.01, eff. April 1, 2007.
Nearby Sections
15
§ 1009.001
DEFINITIONS.§ 1009.002
AUTHORITY FOR CREATION.§ 1009.003
ESSENTIAL PUBLIC FUNCTION.§ 1009.004
DISTRICT TERRITORY.§ 1009.051
BOARD; ELECTION.§ 1009.052
TERM.§ 1009.053
NOTICE OF ELECTION.§ 1009.054
BALLOT PETITION.§ 1009.055
QUALIFICATIONS FOR OFFICE.§ 1009.056
FILING OF OATH.§ 1009.057
BOARD VACANCY.§ 1009.058
OFFICERS.§ 1009.059
COMPENSATION.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 1009.155, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/SD/1009.155.