Section 116.057 - Condition of Personal Bond or Contract for Securities(a) A personal bond provided or a contract for the pledge of securities under this subchapter must be conditioned that the depository will: (1) faithfully keep the county funds and faithfully perform all duties and obligations imposed by law on the depository;(2) pay all checks drawn on a demand deposit account in a depository on presentation by the county treasurer;(3) pay all checks drawn on a time deposit account on presentation after the expiration of the required period of notice; and(4) account for the county funds as required by law.(b) A suit on a personal bond or a contract for securities provided or pledged under this subchapter must be tried in the county for which the depository is selected.Tex. Loc. Gov't. Code § 116.057
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. 9/1/1987.