Texas Attorney General Opinion: DM-99 Page: 4 of 4
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Mr. James L. Pledger - Page 4
associations, while they may affect the activities in which such associations may
engage, do not provide the requisite statutory authority that would permit these
governmental entities to deposit funds in savings and loan associations, and
therefore do not affect the continued validity of our prior opinions.
SUMMARY
Municipalities, counties, independent school districts, and
institutions of higher learning are not authorized to deposit
funds in the demand accounts of savings and loan associations.
Very truly vyours.
DAN MORALES
Attorney General of Texas
WILL PRYOR
First Assistant Attorney General
MARY KELLER
Deputy Assistant Attorney General
JUDGE ZOLLIE STEAKLEY (Ret.)
Special Assistant Attorney General
RENEA HICKS
Special Assistant Attorney General
MADELEINE B. JOHNSON
Chair, Opinion Committee
Prepared by Mary R. Crouter
Assistant Attorney General
(footnote continued)
"depository" to include savings associations, and 1o ;uthorizce municipalities to deposit fundsll in savingss
associations).p. 504
(DM- 9 9)
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Texas. Attorney-General's Office. Texas Attorney General Opinion: DM-99, text, March 30, 1992; (https://texashistory.unt.edu/ark:/67531/metapth273908/m1/4/?q=Lamar+University: accessed June 2, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.