Tex. Gov't Code § 2257.082 · Subchapter E. EXEMPT INSTITUTIONS
FUNDS OF EXEMPT INSTITUTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
An exempt institution is not required to have its funds fully insured or collateralized at all times if:
(1) the funds are held by:
(A) a custodian of the institution's assets under a trust agreement; or
(B) a person in connection with a transaction related to an investment; and
(2) the governing body of the institution, in exercising its fiduciary responsibility, determines that the institution is adequately protected by using a trust agreement, special deposit, surety bond, substantial deposit insurance, or other method an exempt institution commonly uses to protect itself from liability.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2257.htm
- Text hash
- sha256 59fe2214fad70c3993b0c5e9085d8ace661fbf317b314af3674f8078eec9679b
- 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.