Texas Estates Code 22.006 – Corporate Fiduciary
Current as of: 2022 | Check for updates | Other versions
Terms Used In Texas Estates Code 22.006
- Court: means and includes:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise original probate jurisdiction; and
(3) a district court exercising original probate jurisdiction in a contested matter. See Texas Estates Code 22.007
- Executor: A male person named in a will to carry out the decedent
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Surety: includes a personal surety and a corporate surety. See Texas Estates Code 22.032
- Trustee: A person or institution holding and administering property in trust.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
“Corporate fiduciary” means a financial institution, as defined by Section 201.101, Finance Code, that:
(1) is existing or engaged in business under the laws of this state, another state, or the United States;
(2) has trust powers; and
(3) is authorized by law to act under the order or appointment of a court of record, without giving bond, as receiver, trustee, executor, administrator, or, although the financial institution does not have general depository powers, depository for any money paid into the court, or to become sole guarantor or surety in or on any bond required to be given under the laws of this state.