Tex. Fin. Code § 184.301 · Subchapter D. TRUST DEPOSITS
TRUST DEPOSITS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A state trust company may deposit trust funds with itself as an investment if:
(1) the deposit is authorized by the settlor or beneficiary;
(2) the state trust company maintains as security for the deposit a separate fund of securities, legal for trust investments, under control of a federal reserve bank or a clearing corporation, as defined by Section 8.102, Business & Commerce Code, within or outside this state;
(3) the total market value of the security is at all times at least equal to the amount of the deposit; and
(4) the separate fund is designated as a separate fund.
(b) A state trust company may make periodic withdrawals from or additions to a securities fund required by Subsection (a) as long as the required value is maintained. Income from the securities in the fund belongs to the state trust company.
(c) Security for a deposit under this section is not required for a deposit under Subsection (a) to the extent the deposit is insured by the Federal Deposit Insurance Corporation or its successor.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.184.htm
- Text hash
- sha256 6d380ab86b558b93b314c07e02ba798bc5e15b294e2f33aab0e70c0a82f5326b
- 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.
Business & Commerce Code
Cited by 5 provisions
Provisions in this library whose text cites Tex. Fin. Code § 184.301. Each shows the citation as that text prints it.
Finance Code
- Tex. Fin. Code § 181.002DEFINITIONS.Printed as Section 184.301(c)
- Tex. Fin. Code § 182.001ORGANIZATION AND GENERAL POWERS OF STATE TRUST COMPANY.Printed as Section 184.301
- Tex. Fin. Code § 184.401BORROWING LIMIT.Printed as Section 184.301
- Tex. Fin. Code § 184.402PLEDGE OF ASSETS.Printed as Section 184.301
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.