(a) Except as provided by this section, the authority shall select a depository for the authority in the manner provided by Section 60.271, Water Code.(b) The authority shall select a depository in a manner to ensure that authority funds are fully insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.(c) The authority may select more than one institution to serve as a depository in order to comply with the requirement under Subsection (b). Added by Acts 2021, 87th Leg., R.S., Ch. 35 (S.B. 635), Sec. 6, eff. May 15, 2021.
Texas Legal Code