Texas § GV.404.116 - LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF
Full text of Texas The Texas Constitution § GV.404.116 — LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF, with citation guidance and answers to common questions.
§ GV.404.116. LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF
LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF. (a) The trust company may purchase or otherwise acquire insurance to protect members of the advisory board and the trust company staff. (b) Insurance purchased or acquired by the trust company under this section may: (1) protect against any type of liability to third persons that might be incurred while conducting trust company business; and (2) provide for all costs of defending against such liability, including court costs and attorney's fees. (c) This section does not authorize the purchase or acquisition of insurance to protect against liability not described in Subsection (b). Added by Acts 2001, 77th Leg., ch. 1158, Sec. 27, eff. June 15, 2001. SUBCHAPTER H. TAX AND REVENUE ANTICIPATION NOTES
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.404.116
What does The Texas Constitution § GV.404.116 cover?
Section GV.404.116 ("LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF") 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 § GV.404.116?
A common citation format is "The Texas Constitution § GV.404.116" (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 § GV.404.116 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.