Tex. Loc. Gov't Code § 105.053

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 105.053 - Solvency of Surety Company and Adequacy of Securities

At any time the governing body of the municipality considers it necessary for the protection of the municipality, the governing body may direct the designated officer to investigate the solvency of a surety company that issues a bond on behalf of a municipal depository or investigate the value of securities pledged by a depository to secure municipal funds.

Tex. Loc. Gov't. Code § 105.053

Added by Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. 9/1/1987. Renumbered from Sec. 105.056 and amended by Acts 1993, 73rd Leg., ch. 234, Sec. 1, eff. 9/1/1993.