Texas § FI.279.153 - DEPOSIT OF PUBLIC FUNDS BY STATE
Full text of Texas The Texas Constitution § FI.279.153 — DEPOSIT OF PUBLIC FUNDS BY STATE, with citation guidance and answers to common questions.
§ FI.279.153. DEPOSIT OF PUBLIC FUNDS BY STATE
DEPOSIT OF PUBLIC FUNDS BY STATE. (a) If the comptroller designates the financial institution as a state depository under Subchapter C , Chapter 404 , Government Code, the comptroller may deposit public funds with a financial institution designated as a banking district depository under Section 279.151 (a). (b) If the comptroller designates the credit union as a state depository under Subchapter C , Chapter 404 , Government Code, the comptroller may deposit public funds with a credit union designated as a credit union district depository under Section 279.151 (b). (c) For purposes of Subsections (a) and (b), a financial institution or credit union is subject to the collateral requirements of Section 404.031 , Government Code. (d) Subject to an agreement between the comptroller and the banking district or credit union district depository, public funds deposited in the district depository may earn a fixed interest rate that is at or below the financial institution's or credit union's posted two-year certificate of deposit rate, as appropriate. (e) In calculating the yield under Section 2256.006 , Government Code, of public funds deposited in a banking district or credit union district depository, the comptroller 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.279.153
What does The Texas Constitution § FI.279.153 cover?
Section FI.279.153 ("DEPOSIT OF PUBLIC FUNDS BY STATE") 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.279.153?
A common citation format is "The Texas Constitution § FI.279.153" (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.279.153 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.