Texas § 463.103 DEPOSITORY; DEPOSIT OF FUNDS.

Texas Statutes

§ 463.103 — DEPOSITORY; DEPOSIT OF FUNDS.

Texas § 463.103

Code TNTransportation Code

This text of Texas § 463.103 (DEPOSITORY; DEPOSIT OF 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. Transportation Code Code Ann. § 463.103 (2026).

Text

Sec. 463.103. DEPOSITORY; DEPOSIT OF FUNDS.

(a)The executive committee shall designate one or more banks as depositories for authority funds.

(b)An authority shall deposit all funds of the authority that are not otherwise invested in one or more of the authority's depository banks unless otherwise required by an order or resolution authorizing the issuance of an authority bond or note or other contractual undertaking.

(c)Funds in a depository, to the extent that those funds are not insured by the Federal Deposit Insurance Corporation, shall be secured in the manner provided by law for the security of county funds.

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Sec. 463.103. DEPOSITORY; DEPOSIT OF FUNDS. (a) The executive committee shall designate one or more banks as depositories for authority funds.
(b) An authority shall deposit all funds of the authority that are not otherwise invested in one or more of the authority's depository banks unless otherwise required by an order or resolution authorizing the issuance of an authority bond or note or other contractual undertaking.
(c) Funds in a depository, to the extent that those funds are not insured by the Federal Deposit Insurance Corporation, shall be secured in the manner provided by law for the security of county funds.