Tex. Transportation Code § 451.105
This is the official text of Tex. Transportation Code § 451.105, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 451.105. DEPOSITORY; DEPOSIT OF FUNDS.
Official statutory text
(a) A board shall designate one or more banks as depositories for authority funds.
(b) All funds of an authority shall be deposited in one or more of the authority's depository banks unless an order or resolution authorizing the issuance of an authority bond or note requires otherwise.
(c) Funds in a depository, to the extent that those funds are not insured by the Federal Deposit Insurance Corporation, shall be secured in the manner provided by law for the security of county funds.
(b) All funds of an authority shall be deposited in one or more of the authority's depository banks unless an order or resolution authorizing the issuance of an authority bond or note requires otherwise.
(c) Funds in a depository, to the extent that those funds are not insured by the Federal Deposit Insurance Corporation, shall be secured in the manner provided by law for the security of county funds.
Status: in_force · Read it on the official government site
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