Tex. Fin. Code Section 274.105
Failure to Send Notice of Substitution; Defective Notice

(a)

If the parties to a substitution agreement under Section 274.101 (Agreement to Substitute Fiduciaries) intentionally fail to send the required notice under Section 274.103 (Notice of Substitution), the substitution of the fiduciary is ineffective.

(b)

If the parties unintentionally fail to send the required notice, the substitution of the fiduciary is not impaired.

(c)

If a substitution of a fiduciary is ineffective because of a defect in the required notice, any action taken by a subsidiary trust company before the substitution is determined to be ineffective is valid if the action would have been valid if performed by the affiliated bank.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 274.105 — Failure to Send Notice of Substitution; Defective Notice, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­274.­htm#274.­105 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 274.105’s source at texas​.gov