Sec. 183.207. BYLAWS OF LIMITED TRUST ASSOCIATION. (a) A limited trust association in which management is retained by the participants is not required to adopt bylaws if the provisions required by law to be contained in the bylaws are contained in the certificate of formation or the participation agreement.
(b) If a limited trust association has adopted bylaws that designate each full liability participant, the limited trust association shall file a copy of the bylaws with the banking commissioner. Only the portion of the bylaws designating each full liability participant is a public record.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804), Sec. 30, eff. June 14, 2013.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Chapter 183 - Ownership and Management of State Trust Company
Subchapter C. Limited Trust Association
Section 183.201. Liability of Participants and Managers
Section 183.202. Filing of Notice of Full Liability
Section 183.203. Contracting for Debt or Obligation
Section 183.204. Management of Limited Trust Association
Section 183.205. Withdrawal or Reduction of Participant's Contribution to Capital
Section 183.206. Interest in Limited Trust Association; Transferability of Interest
Section 183.207. Bylaws of Limited Trust Association
Section 183.209. Allocation of Profits and Losses
Section 183.210. Distributions
Section 183.211. Application of Other Provisions to Limited Trust Associations