Responsibility for Subsidiary Trust Company

Substitute or Successor Fiduciary · Subsidiary Trust Companies as Substitute or Successor Fiduciaries

The bank holding company that owns a subsidiary trust company shall file with the commissioner an irrevocable undertaking to be fully responsible for the fiduciary acts and omissions of the subsidiary trust company.

Official text of the Texas Finance Code as published by the Texas Legislative Council.

Official source

Legislative history

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