Tex. Property Code § 161.052
AUTHORITY OF FIDUCIARY
Texas · Texas Property Code · Status: effective
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- Citation
- Tex. Property Code § 161.052, AUTHORITY OF FIDUCIARY, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/565180
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Full text
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.