Section 116.028 - Successor Bank As County Depository(a) If a bank selected to be a county depository and holding county funds is sold to another bank in an adjoining county, the successor bank in the adjoining county may continue to serve as a county depository and apply and be selected as a county depository if the successor bank: (1) continues to have an office in an adjoining county; and (2) timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository. (b) If a bank selected as a county depository and holding county funds closes, a branch of the bank in an adjoining county may continue to serve as a county depository and apply to be a county depository if the successor bank: (1) continues to have an office in an adjoining county; and (2) timely applies and is selected to be a county depository in a manner that ensures no lapse of service as a county depository. Tex. Loc. Gov't. Code § 116.028
Added by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 1043,Sec. 2, eff. 6/18/2023.