The Laws of Texas, 1929-1931 [Volume 27] Page: 35 of 1,943
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FORTY-FIRST LEGISLATURE-FOURTH CALLED SESSION. 23
Depository for Trust Funds in the same manner as now provided
by law for qualification as County Depository.
SEC. 4. As soon as said Depository has qualified as provided
by law and has been approved by the Commissioners'
Court, said Court shall make and enter an order upon the
minutes, designating such banking corporation, association, or
individual banker as County Depository for trust funds until
the designation and qualification of a successor, and thereupon
it shall be the duty of the County and District Clerks of such
County to deposit all trust funds in their possession with said
depository in the manner hereinafter provided; provided, in
the event a new Depository has not been selected and qualified
by April 15th succeeding the term of Court at which a Depository
is required to be selected as remnlirPc bv Sotion (On, ,q'n
Two of this Act, then the term of such Depository shall end
and all trust funds due or on deposit shall be paid to the Clerk
in whose name the account is carried, and all interest due shall
be naid to the County as provided by this Act.
SEC. 5. If for any reason there shall be submitted no proposals
by any banking corporation, association, or individual
banker in the county, or in case there shall be no bid for the
entire amount of trust funds, or in the event all bids submitted
have been rejected by the Commissioners' Court, or in the
event a depository selected has failed to qualify, or in the
event that the depository shall become insolvent, or in the event
a new depository has been selected on account of the failure
of the regular depository to execute a new bond as hereinafter
provided, then, in either event, the Commissioners' Court shall
advertise for proposals from any banking corporation, association,
or individual banker within the State of Texas, and
may select a depository, which depository shall qualify in the
manner above provided. Notice of the selection of a depository
as provided by this section shall be published once each
week for two successive weeks in a newspaper of general circulation
within the county, if there be such newspaper. If there
is no newspaper published in the county, then the same shall
be posted at the courthouse for said period. In the discretion
of the Commissioners' Court said notice may also be published
in any newspaper outside of the county for the same length
SEC. 6. It shall be the duty of the depository to provide for
the payment upon presentment at the county seat of the county
of all checks drawn by the county or district clerk upon the
funds deposited in the name of such clerk as long as such
funds shall be in the possession of the depository subject to
such checks. For every failure to pay any such check at such
county seat upon presentment, said depository shall forfeit and
pay to the holder of such check ten per cent of the amount
SEC. 7. If any depository selected by the Commissioners'
Court be not located at the seat of such county, said depository
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1929-1931 [Volume 27], book, 1931; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth16362/m1/35/: accessed November 22, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .