141.013 – CARE OF CUSTODIAL PROPERTY. (a) A custodian
Texas Property Code § 141.013
Summary
This law outlines the responsibilities of custodians managing custodial property, including control and investment duties. It applies to individuals or entities acting as custodians and emphasizes the standard of care required in managing such property.
Custodians must take control and manage custodial property.
They must act with the care of a prudent person.
Custodians are not limited by other fiduciary investment restrictions.
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In simple terms: Learn about Texas's CARE OF CUSTODIAL PROPERTY. (a) A custodian 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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