GroundRules
Tex. Local Government Code § 116.028: SUCCESSOR BANK AS COUNTY DEPOSITORY.
Where this section sits in the code
- LOCAL GOVERNMENT CODE
- TITLE 4. FINANCES
- SUBTITLE B. COUNTY FINANCES
- CHAPTER 116. DEPOSITORIES FOR COUNTY PUBLIC FUNDS
- SUBCHAPTER B. ESTABLISHMENT OF DEPOSITORY
(a) If a bank selected to be a county depository and holding county funds is sold to another bank in an adjoining county, the successor bank in the adjoining county may continue to serve as a county depository and apply and be selected as a county depository if the successor bank:
(1) continues to have an office in an adjoining county; and
(2) timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository.
(b) If a bank selected as a county depository and holding county funds closes, a branch of the bank in an adjoining county may continue to serve as a county depository and apply to be a county depository if the successor bank:
(1) continues to have an office in an adjoining county; and
(2) timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository.
Added by Acts 2023, 88th Leg., R.S., Ch. 1043 (S.B. 158), Sec. 2, eff. June 18, 2023.
Collected 2026-08-27T01:47:27Z. Source file · JSON