Texas Finance Code

§ 123.207 — FIDUCIARY POWERS

FI § 123.207Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part D. CREDIT UNIONS · Ch. 123. GENERAL POWERS · Art. C. FINANCIAL POWERS

Statute text

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A credit union may:

(1)act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond;

(2)receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code;

(3)act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent;

(4)accept, execute, and administer a trust as trustee;

(5)accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or

…

Legislative history

Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.012, eff. September 1, 2015.