Tex. Local Government Code § 116.027
This is the official text of Tex. Local Government Code § 116.027, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 116.027. SELECTION OF NONAPPLICANT DEPOSITORY.
Official statutory text
(a) If no application to be a county depository is submitted, or if all of the applications are declined, the commissioners court shall deposit the funds of the county with any one or more banks in the county or in the adjoining counties in the amounts and for the periods as the commissioners court considers advisable.
(b) A bank that receives deposits under this section shall provide security in the manner and form, and subject to the same conditions, as is required for a depository of county funds. The penalty of the security must at least equal the total amount of county funds deposited with the bank.
(b) A bank that receives deposits under this section shall provide security in the manner and form, and subject to the same conditions, as is required for a depository of county funds. The penalty of the security must at least equal the total amount of county funds deposited with the bank.
Status: in_force · Read it on the official government site
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