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Texas Government Code - GOV'T § 1504.210. Trustee

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

A contract under which an exposition or convention hall is encumbered may provide for:

(1) the selection of a trustee to sell the hall on a default in the payment of principal or interest or another default under the contract;

(2) the selection of a successor trustee, if the original trustee is disqualified or fails to act; and

(3) the collection by the trustee of a fee of not more than five percent of the principal.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1504.210. Trustee - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1504-210/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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