Tex. Government Code § 404.0211
This is the official text of Tex. Government Code § 404.0211, part of Texas’s Government Code — covers the structure and operation of Texas state and local government.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 404.0211. CONFLICT OF INTEREST.
Official statutory text
A bank is not disqualified from serving as a depository for funds of a state agency if:
(1) an officer or employee of the agency who does not have the duty to select the agency's depository is an officer, director, or shareholder of the bank; or
(2) one or more officers or employees of the agency who have the duty to select the agency's depository are officers or directors of the bank or own or have a beneficial interest, individually or collectively, in 10 percent or less of the outstanding capital stock of the bank, if:
(A) a majority of the members of the board, commission, or other body of the agency vote to select the bank as a depository; and
(B) the interested officer or employee does not vote or take part in the proceedings.
(1) an officer or employee of the agency who does not have the duty to select the agency's depository is an officer, director, or shareholder of the bank; or
(2) one or more officers or employees of the agency who have the duty to select the agency's depository are officers or directors of the bank or own or have a beneficial interest, individually or collectively, in 10 percent or less of the outstanding capital stock of the bank, if:
(A) a majority of the members of the board, commission, or other body of the agency vote to select the bank as a depository; and
(B) the interested officer or employee does not vote or take part in the proceedings.
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.