Section 105.034 - Conditions to Acting As Depository(a) The depository shall:(1) keep the municipal funds covered by the depository services contract;(2) perform all duties and obligations imposed on the depository by law and under the depository services contract;(3) pay on presentation all checks drawn and properly payable on a demand deposit account with the depository;(4) pay all transfers properly payable as directed by a designated officer;(5) provide and maintain security at the level required by the provisions of Chapter 2257, Government Code; and(6) account for the municipal funds as required by law.(b) Any suit brought in connection with a depository services contract must be tried in the county in which the city hall of the municipality is located.Tex. Loc. Gov't. Code § 105.034
Amended By Acts 1995, 74th Leg., ch. 76, Sec. 5.95(12), eff. 9/1/1995.