Sec. 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;
(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.
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