Tex.
Local Gov't Code Section 117.125
Transfer of Money
(a)
In the absence of a contrary order from a court having jurisdiction over the registry fund, a clerk may transfer money deposited in the fund into a separate account.(b)
A clerk shall transfer all money deposited in a registry fund under Chapter 1355 (Payment of Certain Claims Without Guardianship), Estates Code, into a separate account.(c)
Money transferred into a separate account under this section must be:(1)
transferred into an account authorized for investment under Chapter 2256 (Public Funds Investment), Government Code, by a local government or investment pool; and(2)
invested according to the investment officer designated under Section 2256.005 (Investment Policies; Investment Strategies; Investment Officer), Government Code, by the investing entity of which the county is a member.(d)
A transfer of money into a separate account under this section is exempt from the requirements prescribed by Section 117.121 (Disbursement of Funds) for disbursements from registry funds.(e)
An investment of money transferred from a registry fund under this section is subject to the limitations, policies, and standards of care provided by Chapter 2256 (Public Funds Investment), Government Code.
Source:
Section 117.125 — Transfer of Money, https://statutes.capitol.texas.gov/Docs/LG/htm/LG.117.htm#117.125 (accessed May 18, 2024).
