Tex. Property Code § 113.171
This is the official text of Tex. Property Code § 113.171, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 113.171. COMMON TRUST FUNDS.
Official statutory text
(a) A bank or trust company qualified to act as a fiduciary in this state may establish common trust funds to provide investments to itself as a fiduciary, including as a custodian under the Texas Uniform Transfers to Minors Act (Chapter 141) or a uniform gifts or transfers to minors act of another state or to itself and others as cofiduciaries.
(b) The fiduciary or cofiduciary may place investment funds in interests in common trust funds if:
(1) the investment is not prohibited by the instrument or order creating the fiduciary relationship; and
(2) if there are cofiduciaries, the cofiduciaries consent to the investment.
(c) A common trust fund includes a fund:
(1) qualified for exemption from federal income taxation as a common trust fund and maintained exclusively for eligible fiduciary accounts; and
(2) consisting solely of assets of retirement, pension, profit sharing, stock bonus, or other employees' trusts that are exempt from federal income taxation.
(b) The fiduciary or cofiduciary may place investment funds in interests in common trust funds if:
(1) the investment is not prohibited by the instrument or order creating the fiduciary relationship; and
(2) if there are cofiduciaries, the cofiduciaries consent to the investment.
(c) A common trust fund includes a fund:
(1) qualified for exemption from federal income taxation as a common trust fund and maintained exclusively for eligible fiduciary accounts; and
(2) consisting solely of assets of retirement, pension, profit sharing, stock bonus, or other employees' trusts that are exempt from federal income taxation.
Status: in_force · Read it on the official government site
Dealing with a real estate matter in Texas?
See all Texas Real Estate lawyers
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.