- (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.