113.057 – DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF. (a)
Texas Property Code § 113.057
Summary
This law allows a corporate trustee to deposit trust funds with itself as a permanent investment, provided there is authorization from the settlor or a beneficiary. It specifically applies to trusts created before January 1, 1988, and outlines the conditions under which these deposits can occur.
Corporate trustees can invest trust funds with themselves.
Authorization must come from the settlor or eligible beneficiaries.
Applicable to trusts established before January 1, 1988.
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In simple terms: Learn about Texas's DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF. (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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