Sec. 456.001. DEFINITION. In this chapter, "eligible institution" means a financial institution or investment company in which a lawyer has established an escrow or trust account for purposes of holding client funds or the funds of third persons that are in the lawyer's possession in connection with representation as required by the Texas Disciplinary Rules of Professional Conduct.
Added by Acts 2015, 84th Leg., R.S., Ch. 949 (S.B. 995), Sec. 45, eff. September 1, 2015.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle J - Additional Matters Relating to the Administration of Certain Estates
Chapter 456 - Disbursement and Closing of Lawyer Trust or Escrow Accounts
Section 456.002. Authority to Designate Lawyer on Certain Trust or Escrow Accounts
Section 456.003. Duty of Eligible Institutions
Section 456.004. Liability of Eligible Institutions