Tex. Prop. Code § 161.052

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

Section 161.052 - Authority of Fiduciary

A fiduciary holding a security in its fiduciary capacity and a bank, trust company, or private banker holding a security as a custodian for a fiduciary, a managing agent, or a custodian may deposit or arrange for the deposit of the security with:

(1) the Federal Reserve Bank of Dallas if the United States has agreed to pay or has guaranteed payment of the security's principal and interest; or

(2) a clearing corporation, either in this state or elsewhere, regardless of whether the clearing corporation conducts or is authorized to conduct business in this state.

Tex. Prop. Code § 161.052

Acts 1983, 68th Leg., p. 3718, ch. 576, Sec. 1, eff. 1/1/1984.