106.52 – DEPOSITORIES. The board may select depository
Texas Education Code § 106.52
Summary
This law allows the board to choose banks for depositing university funds and mandates the requirement of surety bonds for security. It ensures that the university's collected funds are adequately protected and allows for additional security measures as deemed necessary by the board.
Board selects banks for university fund deposits.
Surety bonds are required for deposit security.
Additional security can be mandated by the board.
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In simple terms: Learn about Texas's DEPOSITORIES. The board may select depository law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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