Sec. 116.153. PRO RATA RECOVERY BY STATE AND COUNTY. If a county depository becomes insolvent and it becomes necessary to resort to the depository's bond or bonds to recover funds of the county and the state, the state and county are entitled to share pro rata in the recovery.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Chapter 116 - Depositories for County Public Funds
Section 116.151. Liabilities of Sureties on Separate Bonds
Section 116.152. Subrogation of Sureties
Section 116.153. Pro Rata Recovery by State and County
Section 116.154. Liability of Depository Pending Collection of Deposits
Section 116.155. Failure of Depository to Pay Check or Order for Payment