Tex. Ins. Code Section 2205.254
Depository Bank

(a)

The board may select one or more banks to serve as a depository for the fund.

(b)

A depository bank must provide security before money in the fund may be deposited in the bank in an amount that exceeds the maximum amount secured by the Federal Deposit Insurance Corporation. The security must be in an amount sufficient to secure the excess amount of the deposit.

Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017), Sec. 2, eff. April 1, 2007.

Source: Section 2205.254 — Depository Bank, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2205.htm#2205.254 (accessed Jun. 5, 2024).

2205.001
Definitions 2205.002
Pool Not Engaged in Business of Insurance 2205.003
Department and Commissioner Supervision 2205.051
Creation of Pool 2205.052
Participation in Pool 2205.053
Selection of Temporary Board 2205.101
Time for Creation of Plan of Operation 2205.102
Contents of Plan of Operation 2205.103
Approval of Plan of Operation 2205.151
Governance of Pool 2205.152
Terms 2205.153
Performance Bond Required 2205.154
Compensation 2205.155
Officers 2205.156
General Powers and Duties of Board 2205.157
Immunity of Board Members from Certain Liabilities 2205.201
General Powers and Duties of Pool 2205.202
Pool Manager 2205.203
General Powers and Duties of Pool Manager 2205.204
Personnel 2205.205
Performance Bond Authorized 2205.206
Immunity of Employees and Contractors from Certain Liabilities 2205.207
Office 2205.208
Annual Audit 2205.251
Fund Creation 2205.252
Contributions 2205.253
Uses of Fund 2205.254
Depository Bank 2205.301
Scope of Coverage 2205.302
Basis of Coverage 2205.303
Rates and Limits of Coverage 2205.304
Coverage Period 2205.305
Nonrenewal of Coverage 2205.306
Subsequent Coverage 2205.307
Payment of Claims and Judgments

Accessed:
Jun. 5, 2024

§ 2205.254’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._ins._code_section_2205.254

Original Source: Section 2205.254 — Depository Bank, https://statutes.capitol.texas.gov/Docs/IN/htm/IN.2205.htm#2205.254 (last accessed Jun. 5, 2024).