1002.251 – DEPOSITORY. The board shall by resolution
Texas Special District Local Laws Code § 1002.251
Summary
This law requires the board of a special district to designate a bank within the county as its depository for funds. The chosen bank must secure the district's funds according to county regulations and will serve for a five-year term until a new depository is selected.
Board designates a county bank as depository.
Funds must be secured per county standards.
Depository term lasts five years or until replaced.
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In simple terms: Learn about Texas's DEPOSITORY. The board shall by resolution 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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