Texas § LG.105.071 - CHARACTER AND AMOUNT OF DEPOSITS

Full text of Texas The Texas Constitution § LG.105.071 — CHARACTER AND AMOUNT OF DEPOSITS, with citation guidance and answers to common questions.

§ LG.105.071. CHARACTER AND AMOUNT OF DEPOSITS

CHARACTER AND AMOUNT OF DEPOSITS. (a) The governing body of the municipality may determine and designate in the depository services contract the character and amount of municipal funds that will be demand deposits. However, the municipality has the right to maintain other investments of municipal funds in accordance with the investment policy adopted by the municipality. (b) The designated officer may contract with a depository for interest on time deposits, including, without limitation, certificates of deposit, at any legal rate under federal or state law, rule, or regulation. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1993, 73rd Leg., ch. 234, Sec. 1, eff. Sept. 1, 1993.

Source: official Texas text · Last verified 2026-08-27

Related Texas Legal Topics

Frequently Asked Questions About Texas § LG.105.071

What does The Texas Constitution § LG.105.071 cover?

Section LG.105.071 ("CHARACTER AND AMOUNT OF DEPOSITS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Texas § LG.105.071?

A common citation format is "The Texas Constitution § LG.105.071" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Texas law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.

How does Texas § LG.105.071 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Texas.