Tex. Fin. Code Section 123.207
Fiduciary Powers


A credit union may:

(1)

act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond;

(2)

receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code;

(3)

act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent;

(4)

accept, execute, and administer a trust as trustee;

(5)

accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or

(6)

act as custodian or trustee of a pension or profit-sharing plan, including an individual retirement account or a pension fund of a self-employed individual or of the sponsor of a credit union.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.012, eff. September 1, 2015.

Source: Section 123.207 — Fiduciary Powers, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­123.­htm#123.­207 (accessed May 11, 2024).

Accessed:
May 11, 2024

§ 123.207’s source at texas​.gov