Sec. 183.107. LIMITATION ON ACTION OF OFFICER OR EMPLOYEE IN RELATION TO ASSET OR LIABILITY. Unless expressly authorized by a resolution of the board recorded in its minutes, an officer or employee may not create or dispose of a state trust company asset or create or incur a liability on behalf of the state trust company.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 183 - Ownership and Management of State Trust Company
Subchapter B. Board and Officers
Section 183.101. Voting Securities Held by Trust Company
Section 183.103. Board of Directors, Managers, or Managing Participants
Section 183.104. Advisory Director or Advisory Manager
Section 183.105. Required Quarterly Board Meeting
Section 183.107. Limitation on Action of Officer or Employee in Relation to Asset or Liability
Section 183.108. Certain Criminal Offenses
Section 183.109. Transactions With Management and Affiliates
Section 183.110. Fiduciary Responsibility
Section 183.111. Recordkeeping