Sec. 452.103. DEPOSITORY; DEPOSIT OF FUNDS. (a) The executive committee shall designate one or more banks as depositories for authority funds.
(b) All funds of an authority that are not otherwise invested shall be deposited in one or more of the authority's depository banks unless otherwise required by an order or resolution authorizing the issuance of an authority bond or note or other contractual undertaking.
(c) Funds in a depository, to the extent that those funds are not insured by the Federal Deposit Insurance Corporation, shall be secured in the manner provided by law for the security of county funds.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Subtitle K - Mass Transportation
Chapter 452 - Regional Transportation Authorities
Subchapter C. Management of Authority
Section 452.101. Executive Committee: Powers
Section 452.103. Depository; Deposit of Funds
Section 452.104. Chief Executive: Duties
Section 452.1055. Prohibition of Consumption of Alcoholic Beverage
Section 452.106. Procurement Rules
Section 452.107. Purchases: Competitive Bidding
Section 452.108. Duration of Contracts and Delegation of Powers
Section 452.109. Explanation of Contract Awards in Certain Authorities
Section 452.1095. Exemption From Other Contracting Law for Certain Authorities
Section 452.110. Peace Officers
Section 452.111. Extraordinary Vote Required in Certain Authorities
Section 452.112. Advisory Committees in Certain Authorities
Section 452.113. Budget Recommendations
Section 452.114. Budget in Authority Created by Contiguous Municipality
Section 452.115. Public Hearing on Fare and Service Changes in Certain Authorities
Section 452.116. Public Hearing on Fare and Service Changes in Certain Authorities: Exceptions
Section 452.117. Public Hearing on Experimental Service Change
Section 452.118. Notice of Hearing on Fare or Service Change in Certain Authorities