Texas Local Government Code 117.125 – Transfer of Money
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(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, Estates Code, into a separate account.
Terms Used In Texas Local Government Code 117.125
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
(c) Money transferred into a separate account under this section must be:
(1) transferred into an account authorized for investment under Chapter 2256, Government Code, by a local government or investment pool; and
(2) invested according to the investment officer designated under § 2256.005, 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 § 117.121 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, Government Code.