Texas § LG.105.011 - DEPOSITORY AUTHORIZED
Full text of Texas The Texas Constitution § LG.105.011 — DEPOSITORY AUTHORIZED, with citation guidance and answers to common questions.
§ LG.105.011. DEPOSITORY AUTHORIZED
DEPOSITORY AUTHORIZED. (a) Before awarding a depository services contract to a depository, the governing body of a municipality shall receive applications for the performance of depository services from one or more banks, credit unions, or savings associations. (b) The governing body may consider the application of a bank, credit union, or savings association that is not doing business within the municipality if: (1) the bank, credit union, or savings association maintains a place of business within the state and offers within the state the services required by the depository services contract; and (2) the governing body, prior to giving the notice required by Section 105.012 , has adopted a written policy expressly permitting the consideration of applications received by the municipality from a bank, credit union, or savings association that is not doing business within the municipality, after taking into consideration what is in the best interest of the municipality in establishing a depository. (c) The designated officer shall request, receive, and review applications for the performance of depository services. The designated officer shall present the specifications of each application to the governing body who will then select a depository. Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1989, 71st Leg., ch. 1, Sec. 14(a), eff. Aug. 28, 1989; Acts 1993, 73rd Leg., ch. 234, Sec. 1, eff. Sept. 1, 1993.
Frequently Asked Questions About Texas § LG.105.011
What does The Texas Constitution § LG.105.011 cover?
Section LG.105.011 ("DEPOSITORY AUTHORIZED") 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.105.011?
A common citation format is "The Texas Constitution § LG.105.011" (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.105.011 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.