Sec. 123.207.  FIDUCIARY POWERS.  A credit union may:
(1)  act, under court order or appointment, as guardian, receiver, trustee, executor, or administrator without giving bond;
(2)  receive an investment from a person acting as a guardian, receiver, trustee, executor, or administrator under the Estates Code or Subtitle B, Title 9, Property Code;
(3)  act as depository for money paid to a court or constituting the estate of a deceased person, a minor, or an incompetent;
(4)  accept, execute, and administer a trust as trustee;
(5)  accept funds or money for deposit by a fiduciary, trustee, receiver, guardian, executor, or administrator; or
(6)  act as custodian or trustee of a pension or profit-sharing plan, including an individual retirement account or a pension fund of a self-employed individual or of the sponsor of a credit union.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by: 
Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.012, eff. September 1, 2015.