116.051 – QUALIFICATION AS DEPOSITORY OR SUBDEPOSITORY.
Texas Local Government Code § 116.051
Summary
This law requires a bank selected as a county depository or subdepository to qualify within 15 days by providing security for deposited funds. This ensures that the county's funds are protected and establishes the bank's responsibility in managing those funds.
Banks must qualify within 15 days of selection.
Security for funds can include various types of bonds.
Commissioners court decides the method of securing funds.
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 QUALIFICATION AS DEPOSITORY OR SUBDEPOSITORY. 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.