Unless expressly authorized by a resolution of the board recorded in its minutes, an officer or employee may not create or dispose of a state trust company asset or create or incur a liability on behalf of the state trust company.
Tex. Fin. Code § 183.107
LIMITATION ON ACTION OF OFFICER OR EMPLOYEE IN RELATION TO ASSET OR LIABILITY
Known as the Texas Trust Company Act
The act spans §§ 181–199 (242 sections).
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.