161.058 – CERTIFICATION. (a) On the demand of a fiduciary
Texas Property Code § 161.058
Summary
This law requires banks, trust companies, or private bankers to provide written certification identifying securities held for a fiduciary upon request. It ensures transparency in the management of fiduciary accounts and protects the interests of parties involved in fiduciary relationships.
Fiduciaries can request certification of securities from custodians.
Written certification must identify securities held for the fiduciary.
Enhances transparency in fiduciary account management.
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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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