Sec. 274.109. NOTICE OF CHANGE IN SITUS OF ADMINISTRATION OF FIDUCIARY ACCOUNT FOLLOWING SUBSTITUTION. (a) If the fiduciary of a fiduciary account has changed as a result of a substitution agreement under Section 274.101, the substitute fiduciary shall send notice of a change in the situs of administration of the account after the substitution to each person entitled to notice under Sections 274.103(a) and (c) not later than the 91st day before the effective date of the change.
(b) The notice must be sent by United States mail to the person's current address as shown on the fiduciary's records. The fiduciary shall make a reasonable attempt to ascertain the address of a person who does not have an address shown on the fiduciary's records.
(c) The notice must disclose:
(1) the effect that the change will have on the situs of administration of the account;
(2) the effective date of the change; and
(3) the person's rights with respect to objecting to the change.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses
Chapter 274 - Substitute or Successor Fiduciary
Subchapter B. Subsidiary Trust Companies as Substitute or Successor Fiduciaries
Section 274.101. Agreement to Substitute Fiduciaries
Section 274.102. Situs of Account Administration
Section 274.103. Notice of Substitution
Section 274.104. Form of Notice of Substitution
Section 274.105. Failure to Send Notice of Substitution; Defective Notice
Section 274.106. Effective Date of Substitution of Fiduciaries
Section 274.107. Hearing on Agreement to Substitute Fiduciaries
Section 274.108. Subsidiary Trust Company as Substitute Fiduciary
Section 274.110. Failure to Send Notice of Change in Situs of Administration
Section 274.111. Effective Date of Change in Situs of Administration of Fiduciary Account
Section 274.112. Hearing on Change in Situs of Administration of Fiduciary Account
Section 274.114. Subsidiary Trust Company as Successor Fiduciary
Section 274.115. Bond of Successor Fiduciary
Section 274.116. Responsibility for Subsidiary Trust Company