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Texas Finance Code - FIN § 274.107. Hearing on Agreement to Substitute Fiduciaries

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A court may deny the substitution if the court, after notice and hearing, determines:

(1) if the substitution will not cause a change in the situs of administration of a fiduciary account, that the substitution is materially detrimental to the account or to its beneficiaries;  or

(2) if the substitution will cause a change in the situs of administration of a fiduciary account, that the substitution is not in the best interests of the account or its beneficiaries.

(b) The court shall allow a substitution that will cause the situs of administration of a fiduciary account to change if the court, after notice and hearing, determines that the substitution is in the best interests of the account and its beneficiaries.

(c) In a proceeding under this section, the court may award costs and reasonable and necessary attorney's fees as the court considers equitable and just.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 274.107. Hearing on Agreement to Substitute Fiduciaries - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-274-107/

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