Texas § WA.67.014 - DEPOSITORY FOR FUNDS
Full text of Texas The Texas Constitution § WA.67.014 — DEPOSITORY FOR FUNDS, with citation guidance and answers to common questions.
§ WA.67.014. DEPOSITORY FOR FUNDS
DEPOSITORY FOR FUNDS; PERMITTED INVESTMENTS. (a) The board shall select as depository for the funds of the corporation a bank in this state that is insured by the Federal Deposit Insurance Corporation and require from the depository a bond in an amount the board finds necessary to protect the corporation. (b) Funds allocated by the board to a sinking fund for replacement, amortization of debts, and the payment of interest that are not required to be spent in the year in which deposited shall be: (1) invested in bonds or other evidence of indebtedness of the United States; (2) placed with the depository in an interest-bearing savings account; (3) invested in shares or share accounts in a savings and loan association insured by the Federal Deposit Insurance Corporation; or (4) invested in an investment that is authorized under Subchapter A , Chapter 2256 , Government Code, and by a written investment policy approved by the board that complies with Section 2256.005 , Government Code. Added by Acts 1997, 75th Leg., ch. 166, Sec. 2, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 258, Sec. 1, 2, eff. May 28, 1999.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § WA.67.014
What does The Texas Constitution § WA.67.014 cover?
Section WA.67.014 ("DEPOSITORY FOR FUNDS") 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 § WA.67.014?
A common citation format is "The Texas Constitution § WA.67.014" (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 § WA.67.014 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.