Sec. 8284.156. DEPOSITORY. (a) The board shall select one or more banks in this state to act as depository for the district's money.
(b) To the extent that money in the depository bank is not insured by the Federal Deposit Insurance Corporation, the money must be secured in the manner provided by law for the security of county funds.
(c) A director may be a shareholder in a bank that is a depository of district money.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.04, eff. April 1, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle F - Municipal Utility Districts
Chapter 8284 - Greenwood Utility District
Subchapter D. General Financial Provisions
Section 8284.152. District Accounts
Section 8284.154. Copy of Audit Report