131.901 – OUT-OF-STATE DEPOSITORY PROHIBITED. (a) The
Texas Local Government Code § 131.901
Summary
This law prohibits political subdivisions in Texas from designating out-of-state financial institutions as depositories for their funds. It ensures that local governments keep their financial dealings within the state, promoting economic stability and accountability.
Political subdivisions cannot use out-of-state banks for fund deposits.
Exceptions exist for in-state branches of out-of-state institutions.
Affects counties, municipalities, and school districts.
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 OUT-OF-STATE DEPOSITORY PROHIBITED. (a) The 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.