Tex. Fin. Code § 183.110

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 183.110 - Fiduciary Responsibility

The board of a state trust company is responsible for the proper exercise of fiduciary powers by the state trust company and each matter pertinent to the exercise of fiduciary powers, including:

(1) the determination of policies;

(2) the investment and disposition of property held in a fiduciary capacity; and

(3) the direction and review of the actions of each officer, employee, and committee used by the state trust company in the exercise of its fiduciary powers.

Tex. Fin. Code § 183.110

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. 9/1/1999.