Texas § HS.286.130 - DEPOSITORY

Full text of Texas The Texas Constitution § HS.286.130 — DEPOSITORY, with citation guidance and answers to common questions.

§ HS.286.130. DEPOSITORY

DEPOSITORY. (a) The board shall name at least one bank to serve as depository for district funds. (b) District funds, other than those invested as provided by Section 286.129 (b) and those transmitted to a bank of payment for bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and must remain on deposit. This subsection does not limit the power of the board to place a portion of district funds on time deposit or to purchase certificates of deposit. (c) Before the district deposits funds in a bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation, the bank must execute a bond or other security in an amount sufficient to secure from loss the district funds that exceed the amount secured by the Federal Deposit Insurance Corporation. Added by Acts 1991, 72nd Leg., ch. 14, Sec. 121, eff. Sept. 1, 1991. SUBCHAPTER G. BONDS

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Frequently Asked Questions About Texas § HS.286.130

What does The Texas Constitution § HS.286.130 cover?

Section HS.286.130 ("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 § HS.286.130?

A common citation format is "The Texas Constitution § HS.286.130" (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 § HS.286.130 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.