Texas § LG.116.0565 - CERTIFICATE OF DEPOSIT
Full text of Texas The Texas Constitution § LG.116.0565 — CERTIFICATE OF DEPOSIT, with citation guidance and answers to common questions.
§ LG.116.0565. CERTIFICATE OF DEPOSIT
CERTIFICATE OF DEPOSIT. (a) A certificate of deposit qualifies as security under this subchapter if the certificate is: (1) held in the custody of a Federal Reserve Bank for safekeeping and made the subject of a valid pledge agreement designating the county as the beneficiary of the pledge agreement; (2) insured in full by the Federal Savings and Loan Insurance Corporation or the Federal Deposit Insurance Corporation; (3) described in detail by a safekeeping receipt issued to the county by the Federal Reserve Bank having custody of the certificates; and (4) issued with the county as registered owner. (b) A person to whom presentment of a certificate of deposit pledged to secure county funds is made may not pay or otherwise accept the certificate unless the certificate or the safekeeping receipt required by this section has been endorsed by the county and the depository. Added by Acts 1989, 71st Leg., ch. 1, Sec. 15(b), eff. Aug. 28, 1989.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § LG.116.0565
What does The Texas Constitution § LG.116.0565 cover?
Section LG.116.0565 ("CERTIFICATE OF DEPOSIT") 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.116.0565?
A common citation format is "The Texas Constitution § LG.116.0565" (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.116.0565 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.