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Texas Government Code - GOV'T § 2257.024. Contract for Securing Deposit of Public Funds

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A public entity may contract with a bank that has its main office or a branch office in this state to secure a deposit of public funds.

(b) The contract may contain a term or condition relating to an investment security used as security for a deposit of public funds, including a term or condition relating to the:

(1) possession of the collateral;

(2) substitution or release of an investment security;

(3) ownership of the investment securities of the bank used to secure a deposit of public funds; and

(4) method by which an investment security used to secure a deposit of public funds is valued.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 2257.024. Contract for Securing Deposit of Public Funds - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-2257-024/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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