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Tex. Estates Code § 1355.153

DEPOSIT OF MONEY IN TRUST

Texas · Texas Estates Code · Status: effective

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Tex. Estates Code § 1355.153, DEPOSIT OF MONEY IN TRUST, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/626193
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(a) On receipt of money under this subchapter, an eleemosynary institution shall deposit all of the money received to the resident's trust account. (b) Money deposited in a trust account may be used only: (1) by or for the personal use of the owner of the trust account, under the rules or custom of the institution in the expenditure of money by a resident; or (2) by the responsible officer of the institution, for the resident's use and benefit.