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Texas Water Code - WATER § 26.3515. Limits on Liability of Corporate Fiduciary

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

(a) A corporate fiduciary or its agent is not liable in an individual capacity as an owner or operator of an underground or aboveground storage tank under this subchapter solely because:

(1) the corporate fiduciary or its agent has legal title to real or personal property for purposes of administering a trust or estate of which the property is a part;  or

(2) the corporate fiduciary or its agent does not have legal title to the real or personal property but operates or manages the property under the terms of an estate or trust of which the property is a part.

(b) Subsection (a) of this section does not relieve a trust, estate, or beneficiary of any liability the trust, estate, or beneficiary may have as an owner or operator under this subchapter.

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Cite this article: FindLaw.com - Texas Water Code - WATER § 26.3515. Limits on Liability of Corporate Fiduciary - last updated January 01, 2024 | https://codes.findlaw.com/tx/water-code/water-sect-26-3515/

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