Local Government Code §116.001

In this chapter: (1) "Bank" means a: (A) bank organized under the laws of this state, another state, or federal law that has its main office or a branch office in this state; or (B) savings and loan association or savings bank organized under the laws of this state, another state, or federal law that has its main office or a branch office in this state. (2) "Demand deposit" means a deposit of funds that may be withdrawn on the demand of the depositor. (3) "Time deposit" means a deposit of funds subject to a contract between the depositor and the depository under which the depositor may not withdraw any of the funds by check or by another manner until the expiration of a certain period following written notice of the depositor's intent to withdraw the funds. (4) "Subdepository bank" means an authorized bank, other than a depository, that holds demand deposits, not exceeding the Federal Deposit Insurance Corporation's limit, of a district, county, or precinct officer.