Sec. 62.155. DEPOSIT IN BANKING CORPORATION. (a) Instead of depositing the revenue of the district in the manner provided by law for districts, the commission may deposit the revenue in a banking corporation in the manner provided in Section 62.156 of this code.
(b) On selection of a banking corporation by the commission under Subsection (a) of this section, revenue of the district held by anyone other than the selected banking corporation, on order of the commission, shall be deposited in the selected banking corporation to the credit of the district.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 62 - Article Xvi, Section 59, Navigation Districts
Subchapter E. General Fiscal Provisions
Section 62.151. Construction and Maintenance Fund
Section 62.152. Payment of Expenses
Section 62.153. Duties of District Treasurer; Authority of Designated Officer
Section 62.154. Applicability of Sections 62
Section 62.155. Deposit in Banking Corporation
Section 62.156. Selection of Depository