Tex. Fin. Code § 275.102 · Subchapter C. ADMINISTRATIVE PROVISIONS
AUDITS AND REPORTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) At least once each year, a mutual trust investment company shall cause an adequate audit to be made of the company by auditors responsible only to the board of directors of the company.
(b) A mutual trust investment company shall furnish annually a copy of the company's audited financial statement to each corporate fiduciary owning stock in the company.
(c) The mutual trust investment company shall pay the:
(1) reasonable expenses of an audit required by this section made by an independent public accountant or certified public accountant; and
(2) costs of preparing and distributing a report required by this section.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(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.275.htm
- Text hash
- sha256 faa2110e497bccaff90119ad6e4a7731e576cb7548d4d50b06543d8aa6a56173
- 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.