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Texas Finance Code - Chapter 274 Substitute Or Successor FiduciaryLegal Research Home > Texas Lawyer > Finance Code > Texas Finance Code - Chapter 274 Substitute Or Successor Fiduciary In this chapter: (1) "Bank" has the meaning assigned by Section 2(c), Bank Holding Company Act of 1956 (12 U.S.C. Section 1841(c)) as amended, excluding ... A bank is affiliated with a subsidiary trust company if more than 50 percent of the bank's voting stock is directly or indirectly owned by ... An entity is a subsidiary trust company of a bank holding company if: (1) the entity is a: (A) corporation incorporated under Subchapter A, Chapter ... (a) A subsidiary trust company may enter into an agreement with an affiliated bank of the company to substitute the company as fiduciary for the ... The situs of administration of a fiduciary account is the county in this state in which the fiduciary maintains the office that is primarily responsible ... (a) Not later than the 91st day before the effective date of a substitution under Section 274.101, the parties to the substitution agreement shall send ... The notice required under Section 274.103 must be in writing and disclose: (1) the effect the substitution of fiduciary will have on the situs of ... (a) If the parties to a substitution agreement under Section 274.101 intentionally fail to send the required notice under Section 274.103, the substitution of the ... (a) The substitution takes effect on the effective date stated in the substitution agreement unless, not later than the 16th day before the effective date: ... (a) A court may deny the substitution if the court, after notice and hearing, determines: (1) if the substitution will not cause a change in ... On the effective date of the substitution as prescribed by Section 274.106, the subsidiary trust company: (1) without the necessity of an instrument of transfer ... (a) If the fiduciary of a fiduciary account has changed as a result of a substitution agreement under Section 274.101, the substitute fiduciary shall send ... (a) If the substitute fiduciary of a fiduciary account intentionally fails to send the required notice under Section 274.109, the change in the situs of ... (a) A change in the situs of administration takes effect on the effective date stated in the notice under Section 274.109 unless, not later than ... (a) A court may allow the change in the situs of administration if the court, after notice and hearing, determines that the change is in ... (a) An action under this subchapter for a fiduciary account resulting from a decedent's estate or guardianship must be brought in the county provided for ... For purposes of qualifying as successor fiduciary under a document creating a fiduciary account or a statute of this state relating to fiduciary accounts, a ... If an affiliated bank of a subsidiary trust company has given bond to secure performance of its duties and the company qualifies as successor fiduciary, ... The bank holding company that owns a subsidiary trust company shall file with the commissioner an irrevocable undertaking to be fully responsible for the fiduciary ... 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 ... After a substitution of a subsidiary trust company as fiduciary for an affiliated bank of the company, the bank remains liable for any action taken ... (a) A subsidiary trust company may deposit with an affiliated bank of the company fiduciary money that is being held pending an investment, distribution, or ... Last modified: August 10, 2007 |