Texas § FI.279.151 - DESIGNATION OF DISTRICT DEPOSITORY
Full text of Texas The Texas Constitution § FI.279.151 — DESIGNATION OF DISTRICT DEPOSITORY, with citation guidance and answers to common questions.
§ FI.279.151. DESIGNATION OF DISTRICT DEPOSITORY
DESIGNATION OF DISTRICT DEPOSITORY. (a) The governing body of a local government in which a banking development district has been designated under Subchapter B may by resolution designate a financial institution located in the district as a banking district depository for purposes of this subchapter. (b) The governing body of a local government in which a credit union development district has been designated under Subchapter C may by resolution designate a credit union located in the district as a credit union district depository for purposes of this subchapter. (c) A resolution adopted under Subsection (a) or (b) must specify the maximum amount that may be kept on deposit with the banking district or credit union district depository, as appropriate. (d) In calculating the yield under Section 2256.006 , Government Code, of public funds deposited in a banking district or credit union district depository, the governing body of a local government may consider the benefit to this state of stimulating economic development. Added by Acts 2015, 84th Leg., R.S., Ch. 967 (H.B. 1626 ), Sec. 1, eff. September 1, 2015.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § FI.279.151
What does The Texas Constitution § FI.279.151 cover?
Section FI.279.151 ("DESIGNATION OF DISTRICT DEPOSITORY") 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 § FI.279.151?
A common citation format is "The Texas Constitution § FI.279.151" (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 § FI.279.151 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.