Texas Finance Code - Section 274.201. Designation Of Affiliated Bank As Fiduciary In Will
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Texas Lawyer > Finance Code > Texas Finance Code - Section 274.201. Designation Of Affiliated Bank As Fiduciary In Will
§ 274.201. DESIGNATION OF AFFILIATED BANK AS FIDUCIARY IN
WILL. The prospective designation in a will or other instrument of
an affiliated bank of a subsidiary trust company as fiduciary is
also considered a designation of the company as fiduciary and
confers on the company any discretionary power granted in the
instrument unless:
(1) the bank and company agree in writing to have the
designation of the bank as fiduciary be binding; or
(2) the creator of the fiduciary account, by
appropriate language in the document creating the account, provides
that the account is not eligible for substitution under this
chapter.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 274.110 274.111 274.112 274.113 274.114 274.115 274.116 274.201 274.202 274.203 275.001 275.002 275.003 275.004 275.051
Last modified: August 10, 2007
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