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Tex. Ins. Code § 887.307

REVENUE OF ASSOCIATION; DEPOSIT

Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff

(a) The revenue of an association must be derived from:

(1) membership fees; and

(2) assessments.

(b) Not later than the fifth day after the date an association collects revenue, the association shall deposit the revenue in a state or national bank.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.