Tex. Government Code § 404.116
LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF
Texas · Texas Government Code · Status: effective
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- Citation
- Tex. Government Code § 404.116, LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/652299
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Full text
(a) The trust company may purchase or otherwise acquire insurance to protect members of the advisory board and the trust company staff.
(b) Insurance purchased or acquired by the trust company under this section may:
(1) protect against any type of liability to third persons that might be incurred while conducting trust company business; and
(2) provide for all costs of defending against such liability, including court costs and attorney's fees.
(c) This section does not authorize the purchase or acquisition of insurance to protect against liability not described in Subsection (b).