Texas § 15.610 LINKED DEPOSIT.

Texas Statutes

§ 15.610 — LINKED DEPOSIT.

Texas § 15.610

Code WAWater Code

This text of Texas § 15.610 (LINKED DEPOSIT.) 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. Water Code Code Ann. § 15.610 (2026).

Text

Sec. 15.610. LINKED DEPOSIT. A linked deposit is a deposit governed by a written deposit agreement between the board and an eligible lending institution that provides that:

(1)the eligible lending institution pay interest on the deposit at a rate determined by the board;

(2)the state not withdraw any part of the deposit before the expiration of a period set by a written advance notice of the intention to withdraw; and

(3)the eligible lending institution agree to lend the value of the deposit to a person at a maximum rate that is the rate paid by the eligible lending institution to the board plus a maximum of four percent.

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Sec. 15.610. LINKED DEPOSIT. A linked deposit is a deposit governed by a written deposit agreement between the board and an eligible lending institution that provides that:
(1) the eligible lending institution pay interest on the deposit at a rate determined by the board;
(2) the state not withdraw any part of the deposit before the expiration of a period set by a written advance notice of the intention to withdraw; and
(3) the eligible lending institution agree to lend the value of the deposit to a person at a maximum rate that is the rate paid by the eligible lending institution to the board plus a maximum of four percent.