1005.159 – DEPOSITORY. (a) The board shall select one or
Texas Special District Local Laws Code § 1005.159
Summary
This law requires the board of a special district to select one or more banks to hold the district's funds. It ensures that district money is deposited promptly and remains with the designated depository bank, promoting financial accountability and security.
Board must select a depository bank for district funds.
District money must be deposited as received.
Funds must remain on deposit with the chosen bank.
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In simple terms: Learn about Texas's DEPOSITORY. (a) The board shall select one or 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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