Tex. Transp. Code § 283.204

DEPOSITORY FOR PROCEEDS AND REVENUES

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff

A bank or trust company in this state may:

(1) act as a depository of bond proceeds or revenues received from the operation of a project; and

(2) provide an indemnity bond or pledge securities required by the county.

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