Sec. 161.057. LIABILITY. A fiduciary who deposits securities in a clearing corporation is liable to the beneficial owner of the securities for a loss resulting from the acts or omissions of the clearing corporation. This subchapter does not affect a liability between the fiduciary and the clearing corporation.
Acts 1983, 68th Leg., p. 3719, ch. 576, Sec. 1, eff. Jan. 1, 1984.
Section: Previous 161.021 161.022 161.023 161.024 161.025 161.026 161.027 161.028 161.051 161.052 161.053 161.054 161.055 161.056 161.057Last modified: September 28, 2016