Tex. Finance Code § 123.207
This is the official text of Tex. Finance Code § 123.207, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 123.207. FIDUCIARY POWERS.
Official statutory text
A credit union may:
(1) act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond;
(2) receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code;
(3) act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent;
(4) accept, execute, and administer a trust as trustee;
(5) accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or
(6) act as custodian or trustee of a pension or profit-sharing plan, including an individual retirement account or a pension fund of a self-employed individual or of the sponsor of a credit union.
(1) act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond;
(2) receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code;
(3) act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent;
(4) accept, execute, and administer a trust as trustee;
(5) accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or
(6) act as custodian or trustee of a pension or profit-sharing plan, including an individual retirement account or a pension fund of a self-employed individual or of the sponsor of a credit union.
Status: in_force · Read it on the official government site
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