Tex. Finance Code § 275.101
DIRECTORS
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 275.101, DIRECTORS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646973
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Full text
(a) Except as provided by Subsection (b), a mutual trust investment company must have at least five directors, each of whom is not required to be a stockholder but must be an officer or director of a bank or trust company that is located in this state.
(b) An officer or director of a bank or trust company not located in this state may serve as a director of a mutual trust investment company only if that officer's or director's bank or trust company owns stock in a fiduciary capacity in the mutual trust investment company.