Texas Finance Code
§ 275.051 — CREATION OF MUTUAL TRUST INVESTMENT COMPANY
FI § 275.051Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES · Ch. 275. TEXAS MUTUAL TRUST INVESTMENT COMPANY ACT · Art. B. CREATION OF MUTUAL TRUST INVESTMENT COMPANY
Statute text
View on source(a)One or more fiduciary institutions may incorporate a mutual trust investment company as provided by this chapter to be a medium for the common investment of trust funds held in a fiduciary capacity for fiduciary purposes, by those entities alone or with one or more cofiduciaries.
(b)A mutual trust investment company must be an open-end investment company as defined by, and must be subject to, the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.).
Legislative history
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.