Tex. Fin. Code § 184.402

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 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.

Tex. Fin. Code § 184.402

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. 9/1/1999.