Sec. 505.006. CRIMINAL PENALTY; EFFECT OF CONVICTION. (a) A foreign corporate fiduciary commits an offense if the fiduciary violates this subchapter.
(b) An offense under this section is a misdemeanor punishable by a fine not to exceed $5,000.
(c) On conviction, the court may prohibit a foreign corporate fiduciary convicted of an offense under this section from thereafter serving in any fiduciary capacity in this state.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle K - Foreign Wills, Other Testamentary Instruments, and Fiduciaries
Chapter 505 - Foreign Personal Representatives, Trustees, and Fiduciaries
Subchapter A. Foreign Corporate Fiduciary
Section 505.002. Applicability of Other Law
Section 505.003. Authority of Foreign Corporate Fiduciary to Serve in Fiduciary Capacity
Section 505.004. Filing Requirements; Designation
Section 505.005. Service of Notice or Process on Secretary of State