TX SB1842

Authorizes credit unions to serve as school district depositories, expanding options beyond banks for holding school district funds

Defines "credit union" as a state or federal credit union doing business in Texas with deposits insured by the National Credit Union Share Insurance Fund

Requires credit unions bidding for depository contracts to meet the same requirements as banks, including posting bonds or pledging securities to protect district funds

Applies conflict of interest rules to school board members who are stockholders, officers, directors, or employees of credit unions bidding for depository contracts

Extends depository provisions to open-enrollment charter schools, allowing them to deposit public funds in credit unions with insured deposits