California Probate Code 8423 – If the executor named in the will is a trust company that has sold …
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If the executor named in the will is a trust company that has sold its business and assets to, has consolidated or merged with, or is in any manner provided by law succeeded by, another trust company, the court may, and to the extent required by the Banking Law (Division 1 (commencing with Section 99) of the Financial Code) shall, appoint the successor trust company as executor.
(Enacted by Stats. 1990, Ch. 79.)
Terms Used In California Probate Code 8423
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Executor: A male person named in a will to carry out the decedent
- Trust: includes the following:
California Probate Code 82
- Trust company: means an entity that has qualified to engage in and conduct a trust business in this state. See California Probate Code 83
- Will: includes codicil and any testamentary instrument which merely appoints an executor or revokes or revises another will. See California Probate Code 88