Texas Finance Code 274.109 – Notice of Change in Situs of Administration of Fiduciary Account Following Substitution
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(a) If the fiduciary of a fiduciary account has changed as a result of a substitution agreement under Section 274.101, the substitute fiduciary shall send notice of a change in the situs of administration of the account after the substitution to each person entitled to notice under Sections 274.103(a) and (c) not later than the 91st day before the effective date of the change.
(b) The notice must be sent by United States mail to the person’s current address as shown on the fiduciary’s records. The fiduciary shall make a reasonable attempt to ascertain the address of a person who does not have an address shown on the fiduciary’s records.
Terms Used In Texas Finance Code 274.109
- Fiduciary: A trustee, executor, or administrator.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
(c) The notice must disclose:
(1) the effect that the change will have on the situs of administration of the account;
(2) the effective date of the change; and
(3) the person’s rights with respect to objecting to the change.