Tex. Fin. Code § 187.201 · Subchapter C. OUT-OF-STATE TRUST INSTITUTION REPRESENTATIVE TRUST OFFICE
REPRESENTATIVE TRUST OFFICE BUSINESS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) An out-of-state trust institution may establish a representative trust office as permitted by this subchapter to:
(1) solicit, but not accept, fiduciary appointments;
(2) act as a fiduciary in this state to the extent permitted for a foreign corporate fiduciary by Subchapter A, Chapter 505, Estates Code;
(3) perform ministerial duties with respect to existing clients and accounts of the trust institution;
(4) engage in an activity permitted by Section 182.021; and
(5) to the extent the office is not acting as a fiduciary:
(A) receive for safekeeping personal property of every description;
(B) act as assignee, bailee, conservator, custodian, escrow agent, registrar, receiver, or transfer agent; and
(C) act as financial advisor, investment advisor or manager, agent, or attorney-in-fact in any agreed capacity.
(b) Except as provided by Subsection (a), a trust representative office may not act as a fiduciary or otherwise engage in the trust business in this state.
(c) Subject to the requirements of this subchapter, an out-of-state trust institution may establish and maintain representative trust offices anywhere in this state.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 1420, Sec. 6.001(a), eff. Sept. 1, 2001.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.018, 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.187.htm
- Text hash
- sha256 b8532636219081cbfdfb247a58b884a619c93c496eee9d7309923fadc7ee1781
- 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.