Texas § IN.423.103 - SECURITIES HELD UNDER CUSTODIAL OR TRUST AGREEMENT
Full text of Texas The Texas Constitution § IN.423.103 — SECURITIES HELD UNDER CUSTODIAL OR TRUST AGREEMENT, with citation guidance and answers to common questions.
§ IN.423.103. SECURITIES HELD UNDER CUSTODIAL OR TRUST AGREEMENT
SECURITIES HELD UNDER CUSTODIAL OR TRUST AGREEMENT. A domestic insurer's securities that are held under a custodial agreement or trust agreement with a bank, Federal Home Loan Bank, or trust company may be issued in the name of a nominee of the bank, Federal Home Loan Bank, or trust company only if the bank, Federal Home Loan Bank, or trust company: (1) has corporate trust powers; (2) is authorized to act as a custodian or trustee; (3) is organized under the laws of the United States or any state of the United States; and (4) meets one of the following requirements: (A) is a member of the Federal Reserve System; (B) is a member of or is eligible to receive deposits that are insured by the Federal Deposit Insurance Corporation; (C) maintains an account with a Federal Reserve Bank and is subject to supervision and examination by the Board of Governors of the Federal Reserve System; or (D) is subject to supervision and examination by the Federal Housing Finance Board. 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.423.103
What does The Texas Constitution § IN.423.103 cover?
Section IN.423.103 ("SECURITIES HELD UNDER CUSTODIAL OR TRUST AGREEMENT") 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.423.103?
A common citation format is "The Texas Constitution § IN.423.103" (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.423.103 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.