Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Finance Code § 275.101: DIRECTORS.

Where this section sits in the code

FINANCE CODE
TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES
SUBTITLE Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES
CHAPTER 275. TEXAS MUTUAL TRUST INVESTMENT COMPANY ACT
SUBCHAPTER C. ADMINISTRATIVE PROVISIONS

(a) Except as provided by Subsection (b), a mutual trust investment company must have at least five directors, each of whom is not required to be a stockholder but must be an officer or director of a bank or trust company that is located in this state.

(b) An officer or director of a bank or trust company not located in this state may serve as a director of a mutual trust investment company only if that officer's or director's bank or trust company owns stock in a fiduciary capacity in the mutual trust investment company.

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.

Collected 2026-08-27T01:47:13Z. Source file · JSON

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