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(a) One or more fiduciary institutions may incorporate a mutual trust investment company as provided by this chapter to be a medium for the common investment of trust funds held in a fiduciary capacity for fiduciary purposes, by those entities alone or with one or more cofiduciaries.
(b) A mutual trust investment company must be an open-end investment company as defined by, and must be subject to, the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.).
Cite this article: FindLaw.com - Texas Finance Code - FIN § 275.051. Creation of Mutual Trust Investment Company - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-275-051/
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