125.309 – TRUST ACCOUNT WITH LIMITED DOCUMENTATION. (a)
Texas Finance Code § 125.309
Summary
This law allows trustees to establish trust accounts with credit unions using a certificate of trust instead of extensive documentation. It simplifies the process for trustees by outlining the necessary information to be included in the certificate, benefiting both the trustee and the credit union.
Trustees can use a certificate of trust for account setup.
Certificate must include specific information about the trust.
Simplifies documentation requirements for trust accounts.
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In simple terms: Learn about Texas's TRUST ACCOUNT WITH LIMITED DOCUMENTATION. (a) law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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