1. (a) A state trust company may not pledge or create a lien on any of its assets except to secure:

   1. (1) the repayment of money borrowed;

   2. (2) trust deposits as specifically authorized or required by:

      1. (A) Section 184.301;
      2. (B) Title 9, Property Code; or
      3. (C) rules adopted under this chapter; or

   3. (3) deposits made by:

      1. (A) the United States;
      2. (B) a state, county, or municipality; or
      3. (C) an agency of the United States or a state, county, or municipality.
2. (b) An act, deed, conveyance, pledge, or contract in violation of this section is void.

Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.