Texas Finance Code 183.110 – Fiduciary Responsibility
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Terms Used In Texas Finance Code 183.110
- Fiduciary: A trustee, executor, or administrator.
- Property: means real and personal property. See Texas Government Code 311.005
The board of a state trust company is responsible for the proper exercise of fiduciary powers by the state trust company and each matter pertinent to the exercise of fiduciary powers, including:
(1) the determination of policies;
(2) the investment and disposition of property held in a fiduciary capacity; and
(3) the direction and review of the actions of each officer, employee, and committee used by the state trust company in the exercise of its fiduciary powers.