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Texas Statutes, Title FI

Texas/Statutes

← All Texas coverage

Title FI, Finance Code

100 chapters · 2,835 sections in this title.

All chapters in Title FI2,835 Ch 342, Chapter 342107 Ch 154, Chapter 154100 Ch 92, Chapter 9296 Ch 371, Chapter 37195 Ch 348, Chapter 34894 Ch 345, Chapter 34589 Ch 353, Chapter 35381 Ch 62, Chapter 6279 Ch 347, Chapter 34775 Ch 96, Chapter 9668 Ch 152, Chapter 15265 Ch 393, Chapter 39365 Ch 14, Chapter 1464 Ch 15, Chapter 1564

15 sections·Filtered byTitle FI✕Ch 275✕

Tex. Finance Code § 275.001 Short Title
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Sec. 275.001. SHORT TITLE. This chapter may be cited as the Texas Mutual Trust Investment Company Act. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.
Tex. Finance Code § 275.002 Definitions
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Sec. 275.002. DEFINITIONS. In this chapter: (1) "Fiduciary institution" means a: (A) state bank with trust powers; (B) national bank with trust powers; or (C) trust company. (2) "Stock" means a unit of participation in the net asset value of one or more of the investment funds of…
Tex. Finance Code § 275.003 Application of General Corporation Law
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Sec. 275.003. APPLICATION OF GENERAL CORPORATION LAW. Except as provided by this chapter, a mutual trust investment company must be incorporated under and is subject to the general corporation laws of this state. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, …
Tex. Finance Code § 275.004 Investment of Corporation Assets
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Sec. 275.004. INVESTMENT OF CORPORATION ASSETS. A mutual trust investment company may invest its assets only in investments in which a trustee may invest under the laws of this state. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999. SUBCHAPTER B. CREATION …

Tex. Finance Code § 275.051 Creation of Mutual Trust Investment Company

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Sec. 275.051. CREATION OF MUTUAL TRUST INVESTMENT COMPANY. (a) One or more fiduciary institutions may incorporate a mutual trust investment company as provided by this chapter to be a medium for the common investment of trust funds held in a fiduciary capacity for fiduciary purpo…

Tex. Finance Code § 275.052 Incorporators

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Sec. 275.052. INCORPORATORS. (a) To incorporate, a mutual trust investment company must have five or more persons subscribe and acknowledge the company's articles of incorporation. (b) A person subscribing and acknowledging the articles of incorporation of a mutual trust investme…

Tex. Finance Code § 275.053 Contents of Articles of Incorporation

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Sec. 275.053. CONTENTS OF ARTICLES OF INCORPORATION. In addition to the information required by the general corporation laws, the articles of incorporation shall state: (1) the name of each fiduciary institution causing the corporation to be incorporated; and (2) the amount of st…

Tex. Finance Code § 275.101 Directors

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Sec. 275.101. DIRECTORS. (a) Except as provided by Subsection (b), a mutual trust investment company must have at least five directors, each of whom is not required to be a stockholder but must be an officer or director of a bank or trust company that is located in this state. (b…

Tex. Finance Code § 275.102 Audits and Reports

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Sec. 275.102. AUDITS AND REPORTS. (a) At least once each year, a mutual trust investment company shall cause an adequate audit to be made of the company by auditors responsible only to the board of directors of the company. (b) A mutual trust investment company shall furnish annu…

Tex. Finance Code § 275.151 Ownership

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Sec. 275.151. OWNERSHIP. The stock of a mutual trust investment company may be owned only by fiduciary institutions acting as fiduciaries and any of their cofiduciaries. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.

Tex. Finance Code § 275.152 Registration

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Sec. 275.152. REGISTRATION. The stock of a mutual trust investment company may be registered in the name of one or more nominees of the owner of the stock. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.

Tex. Finance Code § 275.153 Transfer and Assignment

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Sec. 275.153. TRANSFER AND ASSIGNMENT. The stock of a mutual trust investment company may not be transferred except to: (1) the mutual trust investment company; or (2) a fiduciary or cofiduciary that becomes successor to a stockholder and that is a bank or trust company qualified…

Tex. Finance Code § 275.154 Ownership By Mutual Trust Investment Company

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Sec. 275.154. OWNERSHIP BY MUTUAL TRUST INVESTMENT COMPANY. A mutual trust investment company may acquire its own stock and shall bind itself, by contract or its bylaws, to acquire its own stock, but may not vote on shares of its own stock. Added by Acts 1999, 76th Leg., ch. 62, …

Tex. Finance Code § 275.201 Purchase By Fiduciary; Authority and Restrictions

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Sec. 275.201. PURCHASE BY FIDUCIARY; AUTHORITY AND RESTRICTIONS. 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, exerc…

Tex. Finance Code § 275.202 Responsibility of Mutual Trust Investment Company

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Sec. 275.202. RESPONSIBILITY OF MUTUAL TRUST INVESTMENT COMPANY. (a) A mutual trust investment company is not: (1) required to determine the investment powers of a fiduciary that purchases its stock; or (2) liable for accepting funds from a fiduciary in violation of the restricti…