Texas Finance Code 183.210 – Distributions
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Terms Used In Texas Finance Code 183.210
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
Subject to Section 182.103, distributions of cash or other assets of a limited trust association may be made to the participants as provided by the participation agreement. Without the prior written approval of the banking commissioner to use a different distribution method, distributions must be made to the participants 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.