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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) If no bank located in the county applies to be designated as the county depository, the commissioners court may advertise, in the same manner provided by Section 116.022 for advertising for a depository within the county, for applications from banks in an adjoining county or any other county in this state.
(b) If only one bank located in the county applies to be designated as the county depository, the commissioners court may reject the applicant if the applicant proposes terms that:
(1) are not in the best interest of the county;
(2) are not financially competitive with the financial market outside the county; or
(3) impose noncompetitive fees.
(c) If the commissioners court rejects the applicant under Subsection (b), the commissioners court may advertise, in the same manner provided by Section 116.022 for advertising for a depository within the county, for applications from banks in an adjoining county.
Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 116.026. Applicants Outside County - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-116-026/
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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