Texas Finance Code Title 3, Chapter 274 - Substitute Or Successor Fiduciary

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 274.001 - Definitions
  In this chapter: (1) "Bank" has the meaning assigned by Section 31.002(a)(2), excluding a bank that does not have its main office or a branch...
• Texas Section 274.002 - Affiliated Bank
  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...

SUBCHAPTER B SUBSIDIARY TRUST COMPANIES AS SUBSTITUTE OR SUCCESSOR FIDUCIARIES

• Texas Section 274.003 - Subsidiary Trust Company
  An entity is a subsidiary trust company of a bank holding company if: (1) the entity is a: (A) trust company organized under Subchapter A,...
• Texas Section 274.101 - Agreement To Substitute Fiduciaries
  (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...
• Texas Section 274.102 - Situs Of Account Administration
  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...
• Texas Section 274.103 - Notice Of Substitution
  (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...
• Texas Section 274.104 - Form Of Notice Of Substitution
  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...
• Texas Section 274.105 - Failure To Send Notice Of Substitution; Defective Notice
  (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...
• Texas Section 274.106 - Effective Date Of Substitution Of Fiduciaries
  (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:...
• Texas Section 274.107 - Hearing On Agreement To Substitute Fiduciaries
  (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...
• Texas Section 274.108 - Subsidiary Trust Company As Substitute Fiduciary
  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...
• Texas Section 274.109 - Notice Of Change In Situs Of Administration Of Fiduciary Account Following Substitution
  (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...
• Texas Section 274.110 - Failure To Send Notice Of Change In Situs Of Administration
  (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...
• Texas Section 274.111 - Effective Date Of Change In Situs Of Administration Of Fiduciary Account
  (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...
• Texas Section 274.112 - Hearing On Change In Situs Of Administration Of Fiduciary Account
  (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...
• Texas Section 274.113 - Venue
  (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...
• Texas Section 274.114 - Subsidiary Trust Company As Successor Fiduciary
  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...
• Texas Section 274.115 - Bond Of Successor Fiduciary
  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,...

SUBCHAPTER C BANKS AFFILIATED WITH SUBSIDIARY TRUST COMPANIES

• Texas Section 274.116 - Responsibility For Subsidiary Trust Company
  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...
• Texas Section 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...
• Texas Section 274.202 - Liability Of Affiliated Bank Acting As Fiduciary
  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...
• Texas Section 274.203 - Deposit Of Money With Affiliated Bank
  (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: September 28, 2016