161.025 – REDELIVERY OF SECURITY HELD BY NOMINEE. (a) A
Texas Property Code § 161.025
Summary
This law regulates how banks must handle securities held in the name of a nominee. It requires that a bank must register the security in the individual fiduciary's name before redelivering it to them, ensuring proper ownership documentation.
Banks cannot redeliver securities without proper registration.
Securities must be registered in the fiduciary's name.
Sales directed by the fiduciary do not count as redelivery.
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In simple terms: Learn about Texas's REDELIVERY OF SECURITY HELD BY NOMINEE. (a) 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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