Texas § 404.116 LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF.

Texas Statutes

§ 404.116 — LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF.

Texas § 404.116

Code GVGovernment Code

This text of Texas § 404.116 (LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF.) 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.

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Tex. Government Code Code Ann. § 404.116 (2026).

Text

Sec. 404.116. LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF.

(a)The trust company may purchase or otherwise acquire insurance to protect members of the advisory board and the trust company staff.

(b)Insurance purchased or acquired by the trust company under this section may:

(1)protect against any type of liability to third persons that might be incurred while conducting trust company business; and

(2)provide for all costs of defending against such liability, including court costs and attorney's fees.

(c)This section does not authorize the purchase or acquisition of insurance to protect against liability not described in Subsection (b). SUBCHAPTER H. TAX AND REVENUE ANTICIPATION NOTES

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Sec. 404.116. LIABILITY INSURANCE FOR CERTAIN BOARD MEMBERS, OFFICIALS, AND STAFF. (a) The trust company may purchase or otherwise acquire insurance to protect members of the advisory board and the trust company staff.
(b) Insurance purchased or acquired by the trust company under this section may:
(1) protect against any type of liability to third persons that might be incurred while conducting trust company business; and
(2) provide for all costs of defending against such liability, including court costs and attorney's fees.
(c) This section does not authorize the purchase or acquisition of insurance to protect against liability not described in Subsection (b).
SUBCHAPTER H. TAX AND REVENUE ANTICIPATION NOTES