Tex. Local Gov't Code Section 116.024
Selection of Depositories and Subdepositories

(a)

At the meeting at which banks are to be selected as county depositories, the commissioners court shall:

(1)

enter in the minutes of the court all applications filed with the county judge;

(2)

consider all applications; and

(3)

select the qualified applicants that offer the most favorable terms and conditions for the handling of the county funds.

(b)

The commissioners court may reject those applicants whose management or condition, in the opinion of the commissioners court, does not warrant placing county funds in their possession.

(c)

After selecting one or more county depositories, the commissioners court shall immediately return the certified checks of the rejected applicants. The commissioners court shall return the check of a successful applicant when the applicant executes and files a depository bond that is approved by the commissioners court.

(d)

The conflict of interests provisions of Section 131.903 (Conflict of Interest) apply to the selection of the depositories.

(e)

After selecting one or more subdepositories, the commissioners court shall immediately notify each selected applicant of its selection. Within 15 days, the selected applicant must file a bond or other security as approved by the commissioners court.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1991, 72nd Leg., ch. 527, Sec. 4, 5, eff. Sept. 1, 1991; Acts 1993, 73rd Leg., ch. 268, Sec. 29, eff. Sept. 1, 1993.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 899 (H.B. 2641), Sec. 4, eff. June 15, 2007.

Source: Section 116.024 — Selection of Depositories and Subdepositories, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­116.­htm#116.­024 (accessed Jun. 5, 2024).

116.001
Definitions 116.002
Money Affected 116.021
Depository and Subdepository Contracts 116.022
Notice 116.023
Applications 116.024
Selection of Depositories and Subdepositories 116.025
Designation of Depository or Subdepository 116.026
Applicants Outside County 116.027
Selection of Nonapplicant Depository 116.028
Successor Bank as County Depository 116.051
Qualification as Depository or Subdepository 116.052
Personal Bond 116.053
Surety Bond 116.054
Bonds, Notes, and Other Securities 116.055
First Mortgages on Improved Real Property 116.056
Real Property 116.057
Condition of Personal Bond or Contract for Securities 116.058
Amount of Security Required 116.059
Valuation of Real Property Provided as Security 116.060
Security Not Required for Federally Insured Deposits 116.081
New Bond 116.082
Substitution of Securities 116.083
Release of Excess Security 116.084
Inadequate Security 116.085
Solvency of Personal Surety 116.086
Solvency of Surety Company and Adequacy of Securities 116.087
Additional Bond 116.088
Release of Surety Company 116.089
Surrender of Interest on Securities 116.111
Character and Amount of Deposits 116.112
Investment of Funds 116.113
Deposit of Funds 116.114
Collections by Depository 116.115
Clearinghouse for Multiple Depositories 116.116
Obligations Payable at County Depository 116.117
Statements of Account 116.118
Debts Payable Other than at County Treasury 116.119
Requirements for Auditing and Countersigning Unaffected 116.120
Collection of Certain Overdue County Orders for Payment or Checks 116.151
Liabilities of Sureties on Separate Bonds 116.152
Subrogation of Sureties 116.153
Pro Rata Recovery by State and County 116.154
Liability of Depository Pending Collection of Deposits 116.155
Failure of Depository to Pay Check or Order for Payment 116.0565
Certificate of Deposit
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 116.024’s source at texas​.gov