161.028 – CERTIFICATION. (a) On the demand of a fiduciary
Texas Property Code § 161.028
Summary
This law requires banks to provide written certifications identifying securities held for fiduciaries upon request. It applies to fiduciaries using banks as custodians and parties involved in accountings related to nominee-held securities.
Banks must certify securities held for fiduciaries upon demand.
Parties can request certification for nominee-held securities.
Written certifications are mandatory for transparency.
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In simple terms: Learn about Texas's CERTIFICATION. (a) On the demand of a fiduciary 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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