Texas § FI.123.207 - FIDUCIARY POWERS
Full text of Texas The Texas Constitution § FI.123.207 — FIDUCIARY POWERS, with citation guidance and answers to common questions.
§ FI.123.207. FIDUCIARY POWERS
FIDUCIARY POWERS. A credit union may: (1) act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond; (2) receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code; (3) act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent; (4) accept, execute, and administer a trust as trustee; (5) accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or (6) act as custodian or trustee of a pension or profit-sharing plan, including an individual retirement account or a pension fund of a self-employed individual or of the sponsor of a credit union. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296 ), Sec. 20.012, eff. September 1, 2015.
Frequently Asked Questions About Texas § FI.123.207
What does The Texas Constitution § FI.123.207 cover?
Section FI.123.207 ("FIDUCIARY POWERS") 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 § FI.123.207?
A common citation format is "The Texas Constitution § FI.123.207" (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 § FI.123.207 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.