Sec. 1101.159. DEPOSITORY. (a) The board shall select at least one bank to serve as a depository for district money.
(b) District money, other than money invested as provided by Section 1101.160(b) and money transmitted to a bank for payment of bonds or obligations issued or assumed by the district, shall be deposited as received with the depository bank and shall remain on deposit. This subsection does not limit the power of the board to:
(1) place a portion of district money on time deposit; or
(2) purchase certificates of deposit.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1101 - Sutton County Hospital District
Subchapter D. General Financial Provisions
Section 1101.152. Notice; Hearing; Adoption of Budget
Section 1101.154. Restriction on Expenditures
Section 1101.156. Annual Audit
Section 1101.157. Inspection of Annual Audit and District Records
Section 1101.158. Financial Report