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Texas Local Government Code

§ 117.0521 — CUSTODIANSHIP

LG § 117.0521Title 4. FINANCES · Part B. COUNTY FINANCES · Ch. 117. DEPOSITORIES FOR CERTAIN TRUST FUNDS AND COURT REGISTRY FUNDS · Art. C. DEPOSITORY ACCOUNTS

Statute text

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A clerk shall act only in a custodial capacity in relation to a registry fund, a special account, or a separate account. A clerk is not a trustee for the beneficial owner and does not assume the duties, obligations, or liabilities of a trustee for a beneficial owner.

Legislative history

Added by Acts 1997, 75th Leg., ch. 505, Sec. 12, eff. Sept. 1, 1997.

Source: Texas Local Government Code § 117.0521 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.