Liability of Affiliated Bank Acting as Fiduciary

Substitute or Successor Fiduciary · Banks Affiliated with Subsidiary Trust Companies

After a substitution of a subsidiary trust company as fiduciary for an affiliated bank of the company, the bank remains liable for any action taken by the bank as a fiduciary.

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.