Texas § IN.424.110 - POOL MANAGER TO MAINTAIN ASSETS
Full text of Texas The Texas Constitution § IN.424.110 — POOL MANAGER TO MAINTAIN ASSETS, with citation guidance and answers to common questions.
§ IN.424.110. POOL MANAGER TO MAINTAIN ASSETS
POOL MANAGER TO MAINTAIN ASSETS; CUSTODY AGREEMENT. (a) The pool manager shall maintain the assets of the investment pool in one or more accounts, in the name of or on behalf of the pool, under a custody agreement with a qualified bank. (b) The custody agreement must: (1) state and recognize the claims and rights of each participant; (2) acknowledge that the investment pool's underlying assets are held solely for the benefit of each participant in proportion to the aggregate amount of the participant's investments in the pool; and (3) contain an agreement that the pool's underlying assets may not be commingled with the general assets of the custodian qualified bank or any other person. Added by Acts 2005, 79th Leg., Ch. 727 (H.B. 2017 ), Sec. 1, eff. April 1, 2007.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.424.110
What does The Texas Constitution § IN.424.110 cover?
Section IN.424.110 ("POOL MANAGER TO MAINTAIN ASSETS") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.424.110?
A common citation format is "The Texas Constitution § IN.424.110" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.424.110 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.