Tex. Fin. Code § 186.107 · Subchapter B. VOLUNTARY DISSOLUTION
FIDUCIARY ACTIVITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) As soon as practicable after publication of the notice of dissolution, the state trust company shall:
(1) terminate all fiduciary positions it holds;
(2) surrender all property held by it as a fiduciary; and
(3) settle its fiduciary accounts.
(b) Unless all fiduciary accounts are settled and transferred by the last date specified in published notices or by the banking commissioner and unless the banking commissioner directs otherwise, the state trust company shall mail a notice to each trustor and beneficiary of any remaining trust, escrow arrangement, or other fiduciary relationship. The notice must state:
(1) the location of an office open during normal business hours where administration of the remaining fiduciary accounts will continue until settled or transferred; and
(2) a telephone number at that office.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.186.htm
- Text hash
- sha256 9928e775bc9ac7e7f84c56f388eb41b47e5e4a2291355e21a640e22f438c9028
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Cited by 1 provision
Provisions in this library whose text cites Tex. Fin. Code § 186.107. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.