Sec. 161.027. LIABILITY. A bank holding a security in the name of a nominee under this subchapter is liable for a loss resulting from the acts of the bank's nominee with respect to the security.
Acts 1983, 68th Leg., p. 3717, ch. 576, Sec. 1, eff. Jan. 1, 1984.
Structure Texas Statutes
Title 10 - Miscellaneous Beneficial Property Interests
Chapter 161 - Management and Control of Securities
Subchapter B. Custodian of Securities
Section 161.021. Authority of Fiduciary
Section 161.022. Separate Assets
Section 161.023. Expense of Custodianship
Section 161.025. Redelivery of Security Held by Nominee