Texas Government Code 2257.063 – Mitigating Circumstances
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(a) The comptroller shall consider the total circumstances relating to the performance of a depository or custodian when the comptroller makes a finding required by § 2257.062, including the extent to which the noncompliance is minor, isolated, temporary, or nonrecurrent.
(b) The comptroller may not find that a depository or custodian did not maintain reasonable compliance with this chapter if the noncompliance results from the public entity’s failure to comply with § 2257.026.
Terms Used In Texas Government Code 2257.063
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(c) This section does not relieve a depository or custodian of the obligation to secure a deposit of public funds with eligible security in the amount and manner required by this chapter within a reasonable time after the public entity deposits the deposit of public funds with the depository.