Tex. Fin. Code § 274.101 · Subchapter B. SUBSIDIARY TRUST COMPANIES AS SUBSTITUTE OR SUCCESSOR FIDUCIARIES
AGREEMENT TO SUBSTITUTE FIDUCIARIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(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 bank in each fiduciary account listed in the agreement, provided the situs of account administration is not moved outside of this state without the express written consent of all persons entitled to notice under Sections 274.103(a) and (c).
(b) The agreement must include:
(1) a list of each fiduciary account for which substitution is requested;
(2) a statement of whether the substitution will cause a change in the situs of administration of each fiduciary account; and
(3) the effective date of the substitution, which may not be before the 91st day after the date of the agreement.
(c) The agreement must be filed with the commissioner before the date the substitution takes effect.
(d) A fiduciary account may be removed from the operation of the agreement by the filing of an amendment to the agreement with the commissioner before the effective date stated in the agreement.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 344, Sec. 2.031, 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.274.htm
- Text hash
- sha256 3fde42f6fcfd5fcc63307190119f8a68546e461f651b89117ec1b97ed56e3bee
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 3 provisions
Provisions in this library whose text cites Tex. Fin. Code § 274.101. Each shows the citation as that text prints it.
Finance Code
- Tex. Fin. Code § 274.103NOTICE OF SUBSTITUTION.Printed as Section 274.101
- Tex. Fin. Code § 274.105FAILURE TO SEND NOTICE OF SUBSTITUTION; DEFECTIVE NOTICE.Printed as Section 274.101
- Tex. Fin. Code § 274.109NOTICE OF CHANGE IN SITUS OF ADMINISTRATION OF FIDUCIARY ACCOUNT FOLLOWING SUBSTITUTION.Printed as Section 274.101
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.