{"data":{"id":"us-tx/tex.-finance-code-183.203","jurisdiction":"us-tx","citation":"Tex. Finance Code § 183.203","heading":"CONTRACTING FOR DEBT OR OBLIGATION.","body":"Except as provided by this section or the certificate of formation of the limited trust association, a debt, liability, or other obligation may be contracted for or incurred on behalf of a limited trust association only by:\n(1) a majority of the managers, if management of the limited trust association has been vested in a board of managers;\n(2) a majority of the managing participants; or\n(3) an officer or other agent vested with actual or apparent authority to contract for or incur the debt, liability, or other obligation.\nAdded by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.\nAmended by:\nActs 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 27, eff. June 14, 2013.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE F. TRUST COMPANIES","CHAPTER 183. OWNERSHIP AND MANAGEMENT OF STATE TRUST COMPANY","SUBCHAPTER C. LIMITED TRUST ASSOCIATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.183.htm#183.203","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"5711c2a366212145e6e281f72b049122f840c3b69758ced25c50189a8af7ee34","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-183.202","next":"us-tx/tex.-finance-code-183.204"},"notice":"GroundRules: Original legal text. Not legal advice."}