Texas Finance Code 274.111 – Effective Date of Change in Situs of Administration of Fiduciary Account
(a) A change in the situs of administration takes effect on the effective date stated in the notice under Section 274.109 unless, not later than the 16th day before the effective date:
(1) each party entitled to receive notice for the fiduciary account provides the subsidiary trust company with a written objection to the change; or
(2) a party entitled to receive notice files a written petition in a court seeking to have the change denied under Section 274.112 and provides the subsidiary trust company with a copy of the petition.
(b) A change that is objected to under Subsection (a)(1) takes effect when:
(1) one of the parties objecting to the change removes the party’s objection in writing; or
(2) the subsidiary trust company obtains a final court order approving the change.
Terms Used In Texas Finance Code 274.111
- Fiduciary: A trustee, executor, or administrator.
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) A change that is objected to under Subsection (a)(2) takes effect when:
(1) the petition is withdrawn or dismissed; or
(2) the court enters a final order denying the relief sought.