Sec. 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.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.