Tex. Fin. Code § 274.201

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

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.

Tex. Fin. Code § 274.201

Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.