Texas Finance Code

§ 275.052 — INCORPORATORS

FI § 275.052Title 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

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(a)To incorporate, a mutual trust investment company must have five or more persons subscribe and acknowledge the company's articles of incorporation.

(b)A person subscribing and acknowledging the articles of incorporation of a mutual trust investment company must be an officer or director of a fiduciary institution causing the mutual trust investment company to be incorporated.

Legislative history

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.