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Tex. Property Code § 161.025

REDELIVERY OF SECURITY HELD BY NOMINEE

Texas · Texas Property Code · Status: effective

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Tex. Property Code § 161.025, REDELIVERY OF SECURITY HELD BY NOMINEE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/565174
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(a) A bank holding a security in the name of a nominee of the bank under this subchapter may not redeliver the security to the individual fiduciary who authorized its registration in the name of the nominee without registering the security in the name of the individual fiduciary, as fiduciary. (b) A sale of the security by the bank at the direction of the individual fiduciary is not a redelivery.