Sec. 113.023. ANCILLARY TRUSTEE. (a) If trust property is situated outside this state, a Texas trustee may name in writing an individual or corporation qualified to act in the foreign jurisdiction in connection with trust property as ancillary trustee.
(b) Within the limits of the authority of the Texas trustee, the ancillary trustee has the rights, powers, discretions, and duties the Texas trustee delegates, subject to the limitations and directions of the Texas trustee specified in the instrument evidencing the appointment of the ancillary trustee.
(c) The Texas trustee may remove an ancillary trustee and appoint a successor at any time as to all or part of the trust assets.
(d) The Texas trustee may require security of the ancillary trustee, who is answerable to the Texas trustee for all trust property entrusted to or received by the ancillary trustee in connection with the administration of the trust.
(e) If the law of the foreign jurisdiction requires a certain procedure or a judicial order for the appointment of an ancillary trustee or to authorize an ancillary trustee to act, the Texas trustee and the ancillary trustee must satisfy the requirements.
Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.
Structure Texas Statutes
Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts
Subchapter A. Powers of Trustee
Section 113.001. Limitation of Powers
Section 113.002. General Powers
Section 113.004. Additions to Trust Assets
Section 113.005. Acquisition of Undivided Interests
Section 113.006. General Authority to Manage and Invest Trust Property
Section 113.007. Temporary Deposits of Funds
Section 113.008. Business Entities
Section 113.009. Real Property Management
Section 113.010. Sale of Property
Section 113.014. Payment of Taxes
Section 113.015. Authority to Borrow
Section 113.016. Management of Securities
Section 113.017. Corporate Stock or Other Securities Held in Name of Nominee
Section 113.018. Employment and Appointment of Agents
Section 113.020. Burdensome or Worthless Property
Section 113.021. Distribution to Minor or Incapacitated Beneficiary
Section 113.0211. Adjustment of Charitable Trust
Section 113.022. Power to Provide Residence and Pay Funeral Expenses
Section 113.023. Ancillary Trustee
Section 113.024. Implied Powers
Section 113.025. Powers of Trustee Regarding Environmental Laws
Section 113.026. Authority to Designate New Charitable Beneficiary
Section 113.027. Distributions Generally
Section 113.028. Certain Claims and Causes of Action Prohibited
Section 113.029. Discretionary Powers; Tax Savings
Section 113.030. Relocation of Administration of Charitable Trust