A fiduciary institution, alone or with one or more cofiduciaries, acting as a fiduciary for fiduciary purposes with the consent of any cofiduciaries, may invest and reinvest funds held in a fiduciary capacity, exercising the care of a prudent investor, in the shares of stock of a mutual trust investment company unless a will, trust indenture, or other instrument under which the fiduciary is acting prohibits that investment.
Tex. Fin. Code § 275.201
PURCHASE BY FIDUCIARY; AUTHORITY AND RESTRICTIONS
Known as the Texas Mutual Trust Investment Company Act
The act spans §§ 275.001 to 275.202 (15 sections).
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(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.