Sec. 154.255. STANDARD OF DUTY OF DEPOSITORY. A depository described by Section 154.253(a)(1) shall be held to the standard of duty of a fiduciary in holding, investing, or disbursing the money.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 720 (H.B. 2393), Sec. 1, eff. September 1, 2007.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle E - Other Financial Businesses
Chapter 154 - Prepaid Funeral Services
Subchapter F. Trust-Funded Prepaid Funeral Benefits
Section 154.251. Applicability
Section 154.252. Retention of Money for Expenses
Section 154.253. Deposit of Money Paid or Collected
Section 154.254. Amount Payable on Cancellation of Contract
Section 154.255. Standard of Duty of Depository
Section 154.256. Standard of Duty of Trustee
Section 154.257. Investment Plan
Section 154.258. Investment and Management of Trust Assets
Section 154.261. Withdrawal of Earnings to Pay Certain Expenses
Section 154.262. Withdrawal of Money on Death of Beneficiary
Section 154.263. Withdrawal of Earnings Attributable to Contract