Sec. 887.307. REVENUE OF ASSOCIATION; DEPOSIT. (a) The revenue of an association must be derived from:
(1) membership fees; and
(2) assessments.
(b) Not later than the fifth day after the date an association collects revenue, the association shall deposit the revenue in a state or national bank.
Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
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