Texas Finance Code

§ 274.103 — NOTICE OF SUBSTITUTION

FI § 274.103Title 3. FINANCIAL INSTITUTIONS AND BUSINESSES · Part Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES · Ch. 274. SUBSTITUTE OR SUCCESSOR FIDUCIARY · Art. B. SUBSIDIARY TRUST COMPANIES AS SUBSTITUTE OR SUCCESSOR FIDUCIARIES

Statute text

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(a)Not later than the 91st day before the effective date of a substitution under Section 274.101, the parties to the substitution agreement shall send notice of the substitution to:

(1)any other fiduciary;

(2)each surviving settlor of a trust relating to the fiduciary account;

(3)each issuer of a security for which the affiliated bank administers the fiduciary account;

(4)the plan sponsor of each employee benefit plan relating to the fiduciary account;

(5)the principal of each agency account; and

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Legislative history

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