Texas Local Government Code 131.002 – Duties of Special Depository
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Terms Used In Texas Local Government Code 131.002
- Contract: A legal written agreement that becomes binding when signed.
The special depository shall assume the payment of the amount of public funds due by the suspended bank on the date of its suspension, including interest to that date, and shall pay that amount to the designated local government authority in accordance with the contract entered into by the special depository.