{"data":{"id":"us-tx/tex.-finance-code-274.108","jurisdiction":"us-tx","citation":"Tex. Finance Code § 274.108","heading":"SUBSIDIARY TRUST COMPANY AS SUBSTITUTE FIDUCIARY.","body":"On the effective date of the substitution as prescribed by Section 274.106, the subsidiary trust company:\n(1) without the necessity of an instrument of transfer or conveyance, succeeds to all interest in property the affiliated bank holds for the fiduciary account being substituted; and\n(2) without the necessity of judicial action or action by the creator of the fiduciary account, becomes fiduciary of the account and shall perform the duties and exercise the powers of a fiduciary in the same manner as if the company had originally been designated fiduciary.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE Z. MISCELLANEOUS PROVISIONS RELATING TO FINANCIAL INSTITUTIONS AND BUSINESSES","CHAPTER 274. SUBSTITUTE OR SUCCESSOR FIDUCIARY","SUBCHAPTER B. SUBSIDIARY TRUST COMPANIES AS SUBSTITUTE OR SUCCESSOR FIDUCIARIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.274.htm#274.108","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"690113a7cb4efb5cfc80580d79a68c61a6b1a1a9f8459a875a66773fcd505bf4","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-274.107","next":"us-tx/tex.-finance-code-274.109"},"notice":"GroundRules: Original legal text. Not legal advice."}