105.016 – DESIGNATION OF DEPOSITORY. (a) The governing
Texas Local Government Code § 105.016
Summary
This law requires municipal governing bodies to officially designate a financial institution as their depository for funds. If the chosen institution fails to provide required security by a specified deadline, the designation becomes invalid, allowing the governing body to select another institution.
Governing bodies must officially designate a depository for municipal funds.
Failure to provide security by the deadline voids the designation.
Allows for re-selection of a depository if initial choice fails to comply.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's DESIGNATION OF DEPOSITORY. (a) The governing law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.