Texas Estates Code

§ 505.003 — AUTHORITY OF FOREIGN CORPORATE FIDUCIARY TO SERVE IN FIDUCIARY CAPACITY

ES § 505.003Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part K. FOREIGN WILLS, OTHER TESTAMENTARY INSTRUMENTS, AND FIDUCIARIES · Ch. 505. FOREIGN PERSONAL REPRESENTATIVES, TRUSTEES, AND FIDUCIARIES · Art. A. FOREIGN CORPORATE FIDUCIARY

Statute text

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(a)Subject to Subsections (b) and (c) and Section 505.004, a foreign corporate fiduciary may be appointed by will, deed, agreement, declaration, indenture, court order or decree, or otherwise and may serve in this state in any fiduciary capacity, including as:

(1)trustee of a personal or corporate trust;

(2)executor;

(3)administrator; or

(4)guardian of the estate.

(b)A foreign corporate fiduciary appointed to serve in a fiduciary capacity in this state must have the corporate power to act in that capacity.

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Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.