Texas Property Code 113.007 – Temporary Deposits of Funds
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Terms Used In Texas Property Code 113.007
- Trustee: A person or institution holding and administering property in trust.
A trustee may deposit trust funds that are being held pending investment, distribution, or the payment of debts in a bank that is subject to supervision by state or federal authorities. However, a corporate trustee depositing funds with itself is subject to the requirements of Section 113.057 of this code.