Local Provider Participation Fund; Depository

Sec. 300A.0102. LOCAL PROVIDER PARTICIPATION FUND; DEPOSITORY. (a) If the board collects a mandatory payment authorized under this chapter, the board shall create a local provider participation fund in one or more banks designated by the district as a depository for the mandatory payments received by the district. (b) The board may withdraw or use money in the local provider participation fund of the district only for a purpose authorized under this chapter. (c) All funds collected under this chapter shall be secured in the manner provided for securing public funds. Added by Acts 2019, 86th Leg., R.S., Ch. 923 (H.B. 4289), Sec. 2, eff. June 10, 2019.