Section 260.253 - Establishing a Trust Fund Account(a) A program provider that assists an individual with personal funds management must: (1) establish a trust fund account;(2) identify the trust fund account in accordance with the financial institution's requirements for trustee accounts;(3) ensure the trust fund account is insured under federal or state law;(4) deposit the individual's personal funds in the trust fund account; and(5) ensure an individual's personal funds are not commingled with the program provider's funds in the trust fund account.(b) The program provider must maintain a trust fund account as:(1) a pooled checking account containing the personal funds of two or more individuals for whom the program provider manages personal funds;(2) a checking account containing the personal funds of one individual with a financial institution chosen by the program provider and approved, in writing, by the individual or LAR; or(3) a checking account containing the personal funds of one individual with a financial institution chosen by the individual or LAR.(c) A program provider that maintains a trust fund account as a pooled checking account must establish an individual checking account as described in subsection (b)(2) or (3) of this section if an individual or LAR requests, in writing, that the individual's personal funds not be maintained in the pooled checking account described in subsection (b)(1) of this section.26 Tex. Admin. Code § 260.253
Adopted by Texas Register, Volume 48, Number 07, February 17, 2023, TexReg 0915, eff. 2/26/2023