Texas § 1115.159 DEPOSITORY.

Texas Statutes

§ 1115.159 — DEPOSITORY.

Texas § 1115.159

Code SDSpecial District Local Laws Code

This text of Texas § 1115.159 (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. § 1115.159 (2026).

Text

Sec. 1115.159. DEPOSITORY.

(a)The board shall select one or more banks inside or outside the district to serve as a depository for district money.

(b)All district money, other than money invested as provided by Section 1115.160 (b) and money transmitted to a bank for payment of bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and shall remain on deposit.

(c)This chapter, including Subsection (b), does not limit the power of the board to:

(1)place a part of district money on time deposit; or

(2)purchase certificates of deposit.

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

Sec. 1115.159. DEPOSITORY. (a) The board shall select one or more banks inside or outside the district to serve as a depository for district money.
(b) All district money, other than money invested as provided by Section 1115.160 (b) and money transmitted to a bank for payment of bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and shall remain on deposit.
(c) This chapter, including Subsection (b), does not limit the power of the board to:
(1) place a part of district money on time deposit; or
(2) purchase certificates of deposit.