The distribution of assets from the estate of a state trust company the trust deposits of which are insured by the Federal Deposit Insurance Corporation or its successor shall be made in the same order of priority as assets would be distributed on liquidation or purchase of assets and assumption of liabilities of a national bank under federal law.
Tex. Fin. Code § 186.311
PRIORITY OF CLAIMS AGAINST INSURED STATE TRUST COMPANY
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.