Texas § 2257.082 FUNDS OF EXEMPT INSTITUTION.

Texas Statutes

§ 2257.082 — FUNDS OF EXEMPT INSTITUTION.

Texas § 2257.082

Code GVGovernment Code

This text of Texas § 2257.082 (FUNDS OF EXEMPT INSTITUTION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Government Code Code Ann. § 2257.082 (2026).

Text

Sec. 2257.082. FUNDS OF EXEMPT INSTITUTION. An exempt institution is not required to have its funds fully insured or collateralized at all times if:

(1)the funds are held by:

(A)a custodian of the institution's assets under a trust agreement; or

(B)a person in connection with a transaction related to an investment; and

(2)the governing body of the institution, in exercising its fiduciary responsibility, determines that the institution is adequately protected by using a trust agreement, special deposit, surety bond, substantial deposit insurance, or other method an exempt institution commonly uses to protect itself from liability.

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Sec. 2257.082. FUNDS OF EXEMPT INSTITUTION. An exempt institution is not required to have its funds fully insured or collateralized at all times if:
(1) the funds are held by:
(A) a custodian of the institution's assets under a trust agreement; or
(B) a person in connection with a transaction related to an investment; and
(2) the governing body of the institution, in exercising its fiduciary responsibility, determines that the institution is adequately protected by using a trust agreement, special deposit, surety bond, substantial deposit insurance, or other method an exempt institution commonly uses to protect itself from liability.