Texas Property Code Title 10, Chapter 161 - Management And Control Of Securities

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 161.001 - Definitions
  In this chapter: (1) "Fiduciary" means an executor, administrator, or trustee of an express trust, including a corporation or a natural person acting as fiduciary,...

SUBCHAPTER B CUSTODIAN OF SECURITIES

• Texas Section 161.002 - Decree Or Governing Instrument Controls
  The authority granted in this chapter is subject to contrary or limiting provisions in the instrument or court order appointing the fiduciary of the securities...
• Texas Section 161.021 - Authority Of Fiduciary
  A fiduciary who holds a security in a fiduciary capacity may: (1) employ a bank incorporated in this state or a national bank located in...
• Texas Section 161.022 - Separate Assets
  (a) A bank holding a security under this subchapter, whether in registered or bearer form, at all times shall keep the security separate from the...
• Texas Section 161.023 - Expense Of Custodianship
  Unless the fiduciary is a corporation, the cost of employing a bank as a custodian of securities under this subchapter is a charge against the...
• Texas Section 161.024 - Records
  A bank holding a security under Section 161.021, whether in registered or bearer form, at all times shall keep records showing the ownership of the...
• Texas Section 161.025 - Redelivery Of Security Held By Nominee
  (a) A bank holding a security in the name of a nominee of the bank under this subchapter may not redeliver the security to the...
• Texas Section 161.026 - Disposition Of Security Held By Nominee
  A bank holding a security in the name of a nominee under this subchapter may make any disposition of the security that is authorized or...
• Texas Section 161.027 - Liability
  A bank holding a security in the name of a nominee under this subchapter is liable for a loss resulting from the acts of the...

SUBCHAPTER C DEPOSIT OF SECURITY WITH FEDERAL RESERVE BANK OR CLEARING CORPORATION

• Texas Section 161.028 - Certification
  (a) On the demand of a fiduciary employing a bank to hold a security as custodian under this subchapter, the bank shall identify in a...
• Texas Section 161.051 - Application
  (a) Except as provided by Subsection (b), this subchapter applies to a fiduciary holding a security in its fiduciary capacity and to a bank, trust...
• Texas Section 161.052 - Authority Of Fiduciary
  A fiduciary holding a security in its fiduciary capacity and a bank, trust company, or private banker holding a security as a custodian for a...
• Texas Section 161.053 - Bulk Holdings
  A clearing corporation may merge and hold in bulk certificates representing the same class of securities of the same issuer that are deposited with it...
• Texas Section 161.054 - Records
  A fiduciary, bank, trust company, or private banker depositing a security under this subchapter shall show in its records at all times the ownership of...
• Texas Section 161.055 - Regulation
  A bank, trust company, or private banker depositing securities under this subchapter is subject to the regulations issued by the Finance Commission of Texas if...
• Texas Section 161.056 - Book Transfers
  The Federal Reserve Bank of Dallas or a clearing corporation holding securities deposited under this subchapter may transfer ownership of or other interests in the...
• Texas Section 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...
• Texas Section 161.058 - Certification
  (a) On the demand of a fiduciary for whom a bank, trust company, or private banker is acting as custodian, the bank, trust company, or...

Last modified: September 28, 2016