Texas Finance Code

§ 275.153 — TRANSFER AND ASSIGNMENT

FI § 275.153Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES · Ch. 275. TEXAS MUTUAL TRUST INVESTMENT COMPANY ACT · Art. D. MUTUAL TRUST INVESTMENT COMPANY STOCK

Statute text

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The stock of a mutual trust investment company may not be transferred except to:

(1)the mutual trust investment company; or

(2)a fiduciary or cofiduciary that becomes successor to a stockholder and that is a bank or trust company qualified to hold the stock under this chapter.

Legislative history

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