(a) The board shall select one or more banks to serve as a depository for district money.(b) 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.(c) Membership on the district's board of an officer or director of a bank does not disqualify the bank from being designated as depository. Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.01, eff. April 1, 2015.
Texas Legal Code