Water Code § 56.311

The trustee must file a final settlement account with the commissioners court once district claims and expenses are paid, and the commissioners court must review, order turnover of remaining money and property, require an audit, and then discharge the trustee and close the trust estate.

Jurisdiction: United States — Texas
Instrument: Code
Version: Undated source snapshot
Language: en
Official source: View official record ↗

asset transfer audit district management closure reporting

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Provisions of Water Code § 56.311

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56.311
Water Code § 56.311
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The trustee must file a final settlement account with the commissioners court once district claims and expenses are paid, and the commissioners court must review, order turnover of remaining money and property, require an audit, and then discharge the trustee and close the trust estate.

Sec. 56.311. FINAL REPORT OF TRUSTEE. (a) When all claims against the district are paid and all costs and expenses incurred in controlling and managing the district are satisfied, the trustee shall file with the commissioners court his account for final settlement. (b) The trustee's account shall include a complete statement of all money received and paid out, of all property controlled and disposed of by the trustee, and of all other matters relating to management of the district's affairs. (c) On approval of the account, the commissioners court shall direct the trustee to turn over to persons entitled to it as found by the commissioners court all money and property remaining in the control of the trustee, and on compliance with this order, the trustee shall report to the commissioners court, and the commissioners court shall enter an order discharging the trustee and his bondsman and closing the trust estate. (d) Before entering an order discharging the trustee and the surety on the trustee's bond and closing the trust estate, the commissioners court shall order all transactions of the trustee audited by an independent certified public accountant. A copy of the audit shall be filed with the commissioners court and the Texas Commission on Environmental Quality, and a copy shall be provided to the trustee. Acts 1971, 62nd Leg., p. 527, ch. 58, Sec. 1, eff. Aug. 30, 1971. Amended by Acts 2001, 77th Leg., ch. 298, Sec. 17, eff. Sept. 1, 2001. Amended by: Acts 2025, 89th Leg., R.S., Ch. 986 (S.B. 766), Sec. 100, eff. September 1, 2025. SUBCHAPTER J. ALTERNATE PROCEDURE FOR ANNEXATION BY EXISTING DISTRICT

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Water Code § 56.311

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