Texas § SD.21.354 - DEPOSITORY
Full text of Texas The Texas Constitution § SD.21.354 — DEPOSITORY, with citation guidance and answers to common questions.
§ SD.21.354. DEPOSITORY
DEPOSITORY. (a) The board shall name one or more banks to serve as depository for the district's money. (b) District money, other than money transmitted to a bank for payment of bonds issued by the district, shall be deposited as received with the depository bank and shall remain on deposit. (c) Before the district deposits money 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 provide other security in an amount sufficient to secure from loss the amount of the district's deposits that exceed the amount secured by the Federal Deposit Insurance Corporation. (d) This section does not limit the board's power to invest the district's money as provided by Subchapter A , Chapter 2256 , Government Code. Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166 ), Sec. 1.01, eff. April 1, 2009.
Frequently Asked Questions About Texas § SD.21.354
What does The Texas Constitution § SD.21.354 cover?
Section SD.21.354 ("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.21.354?
A common citation format is "The Texas Constitution § SD.21.354" (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.21.354 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.