Texas Statutes
§ 67.014 — DEPOSITORY FOR FUNDS; PERMITTED INVESTMENTS.
Texas § 67.014
JurisdictionTexas
Code WAWater Code
This text of Texas § 67.014 (DEPOSITORY FOR FUNDS; PERMITTED INVESTMENTS.) 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. § 67.014 (2026).
Text
Sec. 67.014. DEPOSITORY FOR FUNDS; PERMITTED INVESTMENTS.
(a)The board shall select as depository for the funds of the corporation a bank in this state that is insured by the Federal Deposit Insurance Corporation and require from the depository a bond in an amount the board finds necessary to protect the corporation.
(b)Funds allocated by the board to a sinking fund for replacement, amortization of debts, and the payment of interest that are not required to be spent in the year in which deposited shall be:
(1)invested in bonds or other evidence of indebtedness of the United States;
(2)placed with the depository in an interest-bearing savings account;
(3)invested in shares or share accounts in a savings and loan association insured by the Federal Deposit Insurance Corporation; or
(4)i
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Legislative History
Added by Acts 1997, 75th Leg., ch. 166, Sec. 2, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 258, Sec. 1, 2, eff. May 28, 1999.
Nearby Sections
15
§ 67.001
DEFINITIONS.§ 67.002
PURPOSE OF CORPORATION.§ 67.003
CREATION OF CORPORATION.§ 67.005
DIRECTORS.§ 67.0052
BALLOT APPLICATION.§ 67.0053
BALLOT.§ 67.0054
ELECTION PROCEDURES.§ 67.0055
ELECTION OF UNOPPOSED CANDIDATE.§ 67.006
OFFICERS.§ 67.008
DISTRIBUTION OF PROFITS.§ 67.009
FACILITIES.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 67.014, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/WA/67.014.