Texas § PR.113.057 - DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF
Full text of Texas The Texas Constitution § PR.113.057 — DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF, with citation guidance and answers to common questions.
§ PR.113.057. DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF
DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF. (a) A corporate trustee may deposit trust funds with itself as a permanent investment if authorized by the settlor in the instrument creating the trust or if authorized in a writing delivered to the trustee by a beneficiary currently eligible to receive distributions from a trust created before January 1, 1988. (b) A corporate trustee may deposit with itself trust funds that are being held pending investment, distribution, or payment of debts if, except as provided by Subsection (d) of this section: (1) it maintains under control of its trust department as security for the deposit a separate fund of securities legal for trust investments; (2) the total market value of the security is at all times at least equal to the amount of the deposit; and (3) the separate fund is marked as such. (c) The trustee may make periodic withdrawals from or additions to the securities fund required by Subsection (b) of this section as long as the required value is maintained. Income from securities in the fund belongs to the trustee. (d) Security for a deposit under this section is not required for a deposit under Subsection (a) or under Subsection (b) of this section to the extent the deposit is insured or otherwise secured under state or federal law. Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984. Amended by Acts 1985, 69th Leg., ch. 149, Sec. 3, eff. May 24, 1985.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § PR.113.057
What does The Texas Constitution § PR.113.057 cover?
Section PR.113.057 ("DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF") 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 § PR.113.057?
A common citation format is "The Texas Constitution § PR.113.057" (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 § PR.113.057 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.