Tex. Fin. Code § 123.207 · Subchapter C. FINANCIAL POWERS
FIDUCIARY POWERS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A credit union may:
(1) act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond;
(2) receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code;
(3) act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent;
(4) accept, execute, and administer a trust as trustee;
(5) accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or
(6) act as custodian or trustee of a pension or profit-sharing plan, including an individual retirement account or a pension fund of a self-employed individual or of the sponsor of a credit union.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.012, eff. September 1, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.123.htm
- Text hash
- sha256 dddbb96c917577fd3479ea66b6922775cf4ac08d9e907052debc5b3af9ad0773
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.