Tex. Prop. Code Section 113.057
Deposits by Corporate Trustee with Itself

(a)

A corporate trustee may deposit trust funds with itself as a permanent investment if authorized by the settlor in the instrument creating the trust or if authorized in a writing delivered to the trustee by a beneficiary currently eligible to receive distributions from a trust created before January 1, 1988.

(b)

A corporate trustee may deposit with itself trust funds that are being held pending investment, distribution, or payment of debts if, except as provided by Subsection (d) of this section:

(1)

it maintains under control of its trust department as security for the deposit a separate fund of securities legal for trust investments;

(2)

the total market value of the security is at all times at least equal to the amount of the deposit; and

(3)

the separate fund is marked as such.

(c)

The trustee may make periodic withdrawals from or additions to the securities fund required by Subsection (b) of this section as long as the required value is maintained. Income from securities in the fund belongs to the trustee.

(d)

Security for a deposit under this section is not required for a deposit under Subsection (a) or under Subsection (b) of this section to the extent the deposit is insured or otherwise secured under state or federal law.
Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984. Amended by Acts 1985, 69th Leg., ch. 149, Sec. 3, eff. May 24, 1985.

Source: Section 113.057 — Deposits by Corporate Trustee with Itself, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­113.­htm#113.­057 (accessed Jun. 5, 2024).

113.001
Limitation of Powers 113.002
General Powers 113.003
Options 113.004
Additions to Trust Assets 113.005
Acquisition of Undivided Interests 113.006
General Authority to Manage and Invest Trust Property 113.007
Temporary Deposits of Funds 113.008
Business Entities 113.009
Real Property Management 113.010
Sale of Property 113.011
Leases 113.012
Minerals 113.013
Insurance 113.014
Payment of Taxes 113.015
Authority to Borrow 113.016
Management of Securities 113.017
Corporate Stock or Other Securities Held in Name of Nominee 113.018
Employment and Appointment of Agents 113.019
Claims 113.020
Burdensome or Worthless Property 113.021
Distribution to Minor or Incapacitated Beneficiary 113.022
Power to Provide Residence and Pay Funeral Expenses 113.023
Ancillary Trustee 113.024
Implied Powers 113.025
Powers of Trustee Regarding Environmental Laws 113.026
Authority to Designate New Charitable Beneficiary 113.027
Distributions Generally 113.028
Certain Claims and Causes of Action Prohibited 113.029
Discretionary Powers 113.030
Relocation of Administration of Charitable Trust 113.031
Digital Assets 113.051
General Duty 113.052
Loan of Trust Funds to Trustee 113.053
Purchase or Sale of Trust Property by Trustee 113.054
Sales from One Trust to Another 113.055
Purchase of Trustee’s Securities 113.056
Authorization to Make Certain Investments 113.057
Deposits by Corporate Trustee with Itself 113.058
Bond 113.081
Resignation of Trustee 113.082
Removal of Trustee 113.083
Appointment of Successor Trustee 113.084
Powers of Successor Trustee 113.085
Exercise of Powers by Multiple Trustees 113.151
Demand for Accounting 113.152
Contents of Accounting 113.171
Common Trust Funds 113.172
Affiliated Institutions 113.0211
Adjustment of Charitable Trust
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 113.057’s source at texas​.gov