Tex. Prop. Code § 161.025 · Subchapter B. CUSTODIAN OF SECURITIES
REDELIVERY OF SECURITY HELD BY NOMINEE.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A bank holding a security in the name of a nominee of the bank under this subchapter may not redeliver the security to the individual fiduciary who authorized its registration in the name of the nominee without registering the security in the name of the individual fiduciary, as fiduciary.
(b) A sale of the security by the bank at the direction of the individual fiduciary is not a redelivery.
Notes and commentary — not statutory text
History
Acts 1983, 68th Leg., p. 3717, ch. 576, Sec. 1, eff. Jan. 1, 1984.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.161.htm
- Text hash
- sha256 2e5bcdbf944b4a781b71a6632e0fe2897189a207ed0bc8ff8aa1c465f2e12034
- 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.