Tex. Fin. Code 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 of the company as fiduciary and confers on the company any discretionary power granted in the instrument unless:

(1)

the bank and company agree in writing to have the designation of the bank as fiduciary be binding; or

(2)

the creator of the fiduciary account, by appropriate language in the document creating the account, provides that the account is not eligible for substitution under this chapter.

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.

Source: Section 274.201 — Designation of Affiliated Bank as Fiduciary in Will, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.274.htm#274.201 (accessed May 18, 2024).

274.001
Definitions 274.002
Affiliated Bank 274.003
Subsidiary Trust Company 274.101
Agreement to Substitute Fiduciaries 274.102
Situs of Account Administration 274.103
Notice of Substitution 274.104
Form of Notice of Substitution 274.105
Failure to Send Notice of Substitution 274.106
Effective Date of Substitution of Fiduciaries 274.107
Hearing on Agreement to Substitute Fiduciaries 274.108
Subsidiary Trust Company as Substitute Fiduciary 274.109
Notice of Change in Situs of Administration of Fiduciary Account Following Substitution 274.110
Failure to Send Notice of Change in Situs of Administration 274.111
Effective Date of Change in Situs of Administration of Fiduciary Account 274.112
Hearing on Change in Situs of Administration of Fiduciary Account 274.113
Venue 274.114
Subsidiary Trust Company as Successor Fiduciary 274.115
Bond of Successor Fiduciary 274.116
Responsibility for Subsidiary Trust Company 274.201
Designation of Affiliated Bank as Fiduciary in Will 274.202
Liability of Affiliated Bank Acting as Fiduciary 274.203
Deposit of Money with Affiliated Bank

Accessed:
May 18, 2024

§ 274.201’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._fin._code_section_274.201

Original Source: Section 274.201 — Designation of Affiliated Bank as Fiduciary in Will, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.274.htm#274.201 (last accessed May 18, 2024).