Texas Local Government Code 117.122 – Interest
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(a) The interest derived from money on deposit in the registry fund shall be paid as earned as follows:
(1) a sum equal to 10 percent of the interest shall be paid into the general fund of the county to reimburse the county for the expenses of maintaining the registry fund; and
(2) the remaining 90 percent of the interest shall be credited to the registry fund.
(b) For each withdrawal, a clerk shall pay out the original amount deposited in the registry of the court and 90 percent of the interest earned on that amount at the time and in the manner directed by the court with proper jurisdiction.
Terms Used In Texas Local Government Code 117.122
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
