Tex. Fin. Code Section 274.108
Subsidiary Trust Company as Substitute Fiduciary

On the effective date of the substitution as prescribed by Section 274.106 (Effective Date of Substitution of Fiduciaries), the subsidiary trust company:

(1)

without the necessity of an instrument of transfer or conveyance, succeeds to all interest in property the affiliated bank holds for the fiduciary account being substituted; and

(2)

without the necessity of judicial action or action by the creator of the fiduciary account, becomes fiduciary of the account and shall perform the duties and exercise the powers of a fiduciary in the same manner as if the company had originally been designated fiduciary.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 274.108 — Subsidiary Trust Company as Substitute Fiduciary, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­274.­htm#274.­108 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 274.108’s source at texas​.gov