161.023 – EXPENSE OF CUSTODIANSHIP. Unless the fiduciary
Texas Property Code § 161.023
Summary
This law specifies that if a fiduciary is not a corporation, the expenses incurred for employing a bank as a custodian for securities will be charged to the estate or trust. This affects fiduciaries managing estates or trusts that require custodianship of securities.
Costs for bank custodianship are charged to the estate or trust.
Applies only when the fiduciary is not a corporation.
Clarifies financial responsibilities for managing securities.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's EXPENSE OF CUSTODIANSHIP. Unless the fiduciary law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.