Tex. Fin. Code Section 184.402
Pledge of Assets

(a)

A state trust company may not pledge or create a lien on any of its assets except to secure:

(1)

the repayment of money borrowed;

(2)

trust deposits as specifically authorized or required by:

(A)

Section 184.301 (Trust Deposits);

(B)

Title 9, Property Code; or

(C)

rules adopted under this chapter; or

(3)

deposits made by:

(A)

the United States;

(B)

a state, county, or municipality; or

(C)

an agency of the United States or a state, county, or municipality.

(b)

An act, deed, conveyance, pledge, or contract in violation of this section is void.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.

Source: Section 184.402 — Pledge of Assets, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­184.­htm#184.­402 (accessed May 11, 2024).

Green check means up to date. Up to date

Accessed:
May 11, 2024

§ 184.402’s source at texas​.gov