Tex. Local Gov't Code Section 116.028
Successor Bank as County Depository


(a)

If a bank selected to be a county depository and holding county funds is sold to another bank in an adjoining county, the successor bank in the adjoining county may continue to serve as a county depository and apply and be selected as a county depository if the successor bank:

(1)

continues to have an office in an adjoining county; and

(2)

timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository.

(b)

If a bank selected as a county depository and holding county funds closes, a branch of the bank in an adjoining county may continue to serve as a county depository and apply to be a county depository if the successor bank:

(1)

continues to have an office in an adjoining county; and

(2)

timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository.
Added by Acts 2023, 88th Leg., R.S., Ch. 1043 (S.B. 158), Sec. 2, eff. June 18, 2023.

Source: Section 116.028 — Successor Bank as County Depository, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­116.­htm#116.­028 (accessed May 18, 2024).

116.001
Definitions
116.002
Money Affected
116.021
Depository and Subdepository Contracts
116.022
Notice
116.023
Applications
116.024
Selection of Depositories and Subdepositories
116.025
Designation of Depository or Subdepository
116.026
Applicants Outside County
116.027
Selection of Nonapplicant Depository
116.028
Successor Bank as County Depository
116.051
Qualification as Depository or Subdepository
116.052
Personal Bond
116.053
Surety Bond
116.054
Bonds, Notes, and Other Securities
116.055
First Mortgages on Improved Real Property
116.056
Real Property
116.057
Condition of Personal Bond or Contract for Securities
116.058
Amount of Security Required
116.059
Valuation of Real Property Provided as Security
116.060
Security Not Required for Federally Insured Deposits
116.081
New Bond
116.082
Substitution of Securities
116.083
Release of Excess Security
116.084
Inadequate Security
116.085
Solvency of Personal Surety
116.086
Solvency of Surety Company and Adequacy of Securities
116.087
Additional Bond
116.088
Release of Surety Company
116.089
Surrender of Interest on Securities
116.111
Character and Amount of Deposits
116.112
Investment of Funds
116.113
Deposit of Funds
116.114
Collections by Depository
116.115
Clearinghouse for Multiple Depositories
116.116
Obligations Payable at County Depository
116.117
Statements of Account
116.118
Debts Payable Other than at County Treasury
116.119
Requirements for Auditing and Countersigning Unaffected
116.120
Collection of Certain Overdue County Orders for Payment or Checks
116.151
Liabilities of Sureties on Separate Bonds
116.152
Subrogation of Sureties
116.153
Pro Rata Recovery by State and County
116.154
Liability of Depository Pending Collection of Deposits
116.155
Failure of Depository to Pay Check or Order for Payment
116.0565
Certificate of Deposit

Accessed:
May 18, 2024

§ 116.028’s source at texas​.gov