{"data":{"id":"us-tx/tex.-special-district-local-laws-code-1112.155","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 1112.155","heading":"DEPOSITORY.","body":"(a) The board shall select one or more banks to serve as a depository for district money.\n(b) All district money shall be immediately deposited on receipt with a depository bank, except that sufficient money must be remitted to an appropriate bank to pay the principal of and interest on the district's outstanding bonds or other obligations assumed by the district on or before the maturity date of the principal and interest.\n(c) To the extent that money in a depository bank is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds.\n(d) Membership on the district's board of an officer or director of a bank does not disqualify the bank from being selected as a depository.\nAdded by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.\nAmended by:\nActs 2025, 89th Leg., R.S., Ch. 139 (S.B. 499), Sec. 1, eff. May 24, 2025.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 3. HEALTH","SUBTITLE A. HOSPITAL DISTRICTS","CHAPTER 1112. WEST COKE COUNTY HOSPITAL DISTRICT","SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.1112.htm#1112.155","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"d2cf2eb0ac4d173fe87423de847d19f2ebde1cd050daa97efa97256b69fcb907","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-1112.154","next":"us-tx/tex.-special-district-local-laws-code-1112.201"},"notice":"GroundRules: Original legal text. Not legal advice."}