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Texas Finance Code - FIN § 274.109. Notice of Change in Situs of Administration of Fiduciary Account Following Substitution

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

(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.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 274.109. Notice of Change in Situs of Administration of Fiduciary Account Following Substitution - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-274-109/

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