(a) A public entity is responsible for reviewing and monitoring the reports posted on the comptroller's website related to its deposits of public funds.
(b) A public entity is responsible for verifying the accuracy of the daily reports of its itemized deposits and reporting any discrepancies to its participating depository institution.
(c) A public entity shall inform its participating depository institution of a significant change in the amount or activity of its deposits within a reasonable time before the change occurs.
(d) A participating depository institution must notify the comptroller if a public entity repeatedly fails to inform it of a significant change in the amount or activity in deposits as required in subsection (c) of this section.
(e) The comptroller in its discretion may disapprove a collateral security agreement between a participating depository institution and a public entity if that public entity fails to comply with the notice requirement in subsection (c) of this section more than two times within a one-year period.

Source Note: The provisions of this §4.114 adopted to be effective October 19, 2010, 35 TexReg 9345