{"data":{"id":"us-tx/tex.-education-code-45.204","jurisdiction":"us-tx","citation":"Tex. Education Code § 45.204","heading":"CONFLICT OF INTEREST.","body":"(a) If a member of the board of trustees of a school district is a stockholder, officer, director, or employee of a bank, the bank is not disqualified from bidding, submitting a proposal, or becoming the depository of the district if the bank is selected by a majority vote of the board of trustees of the district or a majority vote of a quorum when only a quorum is present.\n(b) If a member of the board of trustees of a school district is a stockholder, officer, director, or employee of a bank that has bid or submitted a proposal to become a depository for the district, the member may not vote on awarding a depository contract to the bank, and the contract must be awarded by a majority vote of the trustees as provided by Subsection (a) who are not either a stockholder, officer, director, or employee of a bank receiving a district depository contract.\nAdded by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff. May 30, 1995.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 322 (H.B. 2411), Sec. 1, eff. June 15, 2007.","path":["EDUCATION CODE","TITLE 2. PUBLIC EDUCATION","SUBTITLE I. SCHOOL FINANCE AND FISCAL MANAGEMENT","CHAPTER 45. SCHOOL DISTRICT FUNDS","SUBCHAPTER G. SCHOOL DISTRICT DEPOSITORIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/ED/htm/ED.45.htm#45.204","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:05Z","sha256":"c635cdf00f5d87abe41febdaf98bb91ad54be5ed173d1bd6f13e10270c73c823","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-education-code-45.203","next":"us-tx/tex.-education-code-45.205"},"notice":"GroundRules: Original legal text. Not legal advice."}