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2025 Texas Statutes
Finance Code
Title 3 - Financial Institutions and Businesses
Subtitle C - Savings Banks
Chapter 93 - General Powers
Section 93.006. Power to Act Under Certain Federal Retirement Plans
Universal Citation:
TX Fin Code § 93.006 (2025)
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Sec. 93.006. POWER TO ACT UNDER CERTAIN FEDERAL RETIREMENT PLANS. A savings bank or a federal savings bank, to the extent that its charter and applicable federal regulations permit, may:
(1) exercise any power necessary to qualify as a trustee or custodian for a retirement plan permitted or recognized by federal law; and
(2) invest money the bank holds as trustee or custodian under Subdivision (1) in the bank's accounts if the plan does not prohibit that investment.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
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