Sec. 398A. HOLDING OF STOCKS, BONDS AND OTHER PERSONAL PROPERTY BY PERSONAL REPRESENTATIVES IN NAME OF NOMINEE

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Unless otherwise provided by will, a personal representative may cause stocks, bonds, and other personal property of an estate to be registered and held in the name of a nominee without mention of the fiduciary relationship in any instrument or record constituting or evidencing title thereto. The personal representative is liable for the acts of the nominee with respect to any property so registered. The records of the personal representative shall at all times show the ownership of the property. Any property so registered shall be in the possession and control of the personal representative at all times and be kept separate from his individual property.

Added by Acts 1969, 61st Leg., p. 2106, ch. 719, Sec. 1, eff. Sept. 1, 1969.

                    
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