Texas § SD.1112.155 - DEPOSITORY
Full text of Texas The Texas Constitution § SD.1112.155 — DEPOSITORY, with citation guidance and answers to common questions.
§ SD.1112.155. DEPOSITORY
DEPOSITORY. (a) The board shall select one or more banks to serve as a depository for district money. (b) All district money shall be immediately deposited on receipt with a depository bank, except that sufficient money must be remitted to an appropriate bank to pay the principal of and interest on the district's outstanding bonds or other obligations assumed by the district on or before the maturity date of the principal and interest. (c) To the extent that money in a depository bank is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds. (d) Membership on the district's board of an officer or director of a bank does not disqualify the bank from being selected as a depository. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026 ), Sec. 1.01, eff. April 1, 2015. Amended by: Acts 2025, 89th Leg., R.S., Ch. 139 (S.B. 499 ), Sec. 1, eff. May 24, 2025. SUBCHAPTER E. BONDS
Frequently Asked Questions About Texas § SD.1112.155
What does The Texas Constitution § SD.1112.155 cover?
Section SD.1112.155 ("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 § SD.1112.155?
A common citation format is "The Texas Constitution § SD.1112.155" (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 § SD.1112.155 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.