105.034 – CONDITIONS TO ACTING AS DEPOSITORY. (a) The
Texas Local Government Code § 105.034
Summary
This law outlines the responsibilities of a depository for municipal funds, ensuring they manage and secure these funds appropriately. It affects municipalities and their chosen depositories, establishing standards for financial management and security.
Depositories must secure municipal funds as per contract.
They are required to pay checks and transfers on demand.
Depositories must maintain specified security levels.
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In simple terms: Learn about Texas's CONDITIONS TO ACTING AS DEPOSITORY. (a) The 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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