{"data":{"id":"us-tx/tex.-finance-code-183.209","jurisdiction":"us-tx","citation":"Tex. Finance Code § 183.209","heading":"ALLOCATION OF PROFITS AND LOSSES.","body":"The profits and losses of a limited trust association may be allocated among the participants and among classes of participants as provided by the participation agreement. Without the prior written approval of the banking commissioner to use a different allocation method, the profits and losses must be allocated according to the relative interests of the participants as reflected in the certificate of formation and related documents filed with and approved by the banking commissioner.\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. 32, 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#183.209","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"a347be59284344eb0e056bfdcb9eb7e1edd23c9c58f6bca1e3afb7efd80c9af9","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-183.208","next":"us-tx/tex.-finance-code-183.210"},"notice":"GroundRules: Original legal text. Not legal advice."}