Tex. Gov't Code § 2116.018 · Subchapter A. ESTABLISHMENT AND ADMINISTRATION OF TEXAS BULLION DEPOSITORY
DEPOSITORY ACCOUNT HELD BY FIDUCIARY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The depository or a depository agent may accept a depository account in the name of a fiduciary, including an administrator, executor, custodian, guardian, or trustee, for a named beneficiary.
(b) A fiduciary may open, add to, or withdraw precious metals from an account described by Subsection (a).
(c) Except as otherwise provided by law, a payment or delivery to a fiduciary or an acquittance signed by the fiduciary to whom a payment or delivery is made is a discharge of the depository for the payment or delivery.
(d) After a person who holds a depository account in a fiduciary capacity dies, the depository may pay or deliver to the beneficiary of the account the quantity of precious metals represented by the balance in the depository account, plus other rights relating to the depository account, wholly or partly, if the depository has no written notice or order of the probate court of:
(1) a revocation or termination of the fiduciary relationship; or
(2) any other disposition of the beneficial estate.
(e) The depository has no further liability for a payment made or right delivered under Subsection (d).
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 1000 (H.B. 483), Sec. 1, eff. June 19, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2116.htm
- Text hash
- sha256 3216927df2790424ab521d075e3a8693a734235a4034cf7b899baa56898c7b45
- 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.