Texas Property Code

§ 113.017 — CORPORATE STOCK OR OTHER SECURITIES HELD IN NAME OF NOMINEE

PR § 113.017Title 9. TRUSTS · Part B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS · Ch. 113. ADMINISTRATION · Art. A. POWERS OF TRUSTEE

Statute text

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A trustee may:

(1)hold corporate stock or other securities in the name of a nominee;

(2)under Subchapter B, Chapter 161, or other law, employ a bank incorporated in this state or a national bank located in this state as custodian of any corporate stock or other securities held in trust; and

(3)under Subchapter C, Chapter 161, or other law, deposit or arrange for the deposit of securities with a Federal Reserve Bank or in a clearing corporation.

Legislative history

Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.