Tex. Finance Code § 274.105
This is the official text of Tex. Finance Code § 274.105, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 274.105. FAILURE TO SEND NOTICE OF SUBSTITUTION; DEFECTIVE NOTICE.
Official statutory text
(a) If the parties to a substitution agreement under Section 274.101 intentionally fail to send the required notice under Section 274.103, the substitution of the fiduciary is ineffective.
(b) If the parties unintentionally fail to send the required notice, the substitution of the fiduciary is not impaired.
(c) If a substitution of a fiduciary is ineffective because of a defect in the required notice, any action taken by a subsidiary trust company before the substitution is determined to be ineffective is valid if the action would have been valid if performed by the affiliated bank.
(b) If the parties unintentionally fail to send the required notice, the substitution of the fiduciary is not impaired.
(c) If a substitution of a fiduciary is ineffective because of a defect in the required notice, any action taken by a subsidiary trust company before the substitution is determined to be ineffective is valid if the action would have been valid if performed by the affiliated bank.
Status: in_force · Read it on the official government site
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