105.011 – DEPOSITORY AUTHORIZED. (a) Before awarding a
Texas Local Government Code § 105.011
Summary
This law requires municipalities to solicit applications for depository services from banks, credit unions, or savings associations before awarding contracts. It allows consideration of institutions not located within the municipality if they have a physical presence nearby.
Municipalities must solicit applications for depository services.
Out-of-town institutions can be considered if they have a local presence.
Applies to banks, credit unions, and savings associations.
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In simple terms: Learn about Texas's DEPOSITORY AUTHORIZED. (a) Before awarding a 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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