Tex. Fin. Code § 274.203 · Subchapter C. BANKS AFFILIATED WITH SUBSIDIARY TRUST COMPANIES
DEPOSIT OF MONEY WITH AFFILIATED BANK.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A subsidiary trust company may deposit with an affiliated bank of the company fiduciary money that is being held pending an investment, distribution, or payment of a debt if:
(1) the company maintains under its control as security for the deposit a separate fund of securities legal for trust investments pledged by the bank;
(2) the total market value of the securities is at all times at least equal to the amount of the deposit; and
(3) the fund of securities is designated as a separate fund.
(b) The bank may make periodic withdrawals from or additions to the fund of securities required by this section only if the required value is maintained.
(c) Income from securities in the fund belongs to the bank.
(d) Security for a deposit under this section is not required to the extent the deposit is insured or otherwise secured under law.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.274.htm
- Text hash
- sha256 f4e232fef0a1ff12c612c65c8347afa1ae76f427a2cf7336a6c39afdeddaf8c9
- 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
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.