Tex. Local Gov't Code Section 105.053
Solvency of Surety Company and Adequacy of Securities

At any time the governing body of the municipality considers it necessary for the protection of the municipality, the governing body may direct the designated officer to investigate the solvency of a surety company that issues a bond on behalf of a municipal depository or investigate the value of securities pledged by a depository to secure municipal funds.
Added by Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Renumbered from Sec. 105.056 and amended by Acts 1993, 73rd Leg., ch. 234, Sec. 1, eff. Sept. 1, 1993.

Source: Section 105.053 — Solvency of Surety Company and Adequacy of Securities, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­105.­htm#105.­053 (accessed May 26, 2025).

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