reglab/housing_qa huggingface dataset:
TX Fin Code § 274.111 (2021)
2021 Texas Statutes|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|Section 274.111. Effective Date of Change in Situs of Administration of Fiduciary Account

Sec. 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approving the change.(c)  A change that is objected to under Subsection (a)(2) takes effect when:(1)  the petition is withdrawn or dismissed;  or(2)  the court enters a final order denying the relief sought.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.112 (2021)
2021 Texas Statutes|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|Section 274.112. Hearing on Change in Situs of Administration of Fiduciary Account

Sec. 274.112.  HEARING ON CHANGE IN SITUS OF ADMINISTRATION OF FIDUCIARY ACCOUNT.  (a)  A court may allow the change in the situs of administration if the court, after notice and hearing, determines that the change is in the best interests of the fiduciary account and its beneficiaries.  The court may deny the change if the court, after notice and hearing, determines that the change is not in the best interests of the account or its beneficiaries.(b)  In a proceeding under this section, the court may award costs and reasonable and necessary attorney's fees as the court considers equitable and just.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.113 (2021)
2021 Texas Statutes|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|Section 274.113. Venue

Sec. 274.113.  VENUE.  (a)  An action under this subchapter for a fiduciary account resulting from a decedent's estate or guardianship must be brought in the county provided for by the Estates Code with respect to the probate of a will, issuance of letters testamentary or of administration, administration of a decedent's estate, appointment of a guardian, and administration of a guardianship.(b)  Except as provided by Subsection (c), an action under this subchapter regarding any other fiduciary account must be brought in the county of the situs of administration of the account, notwithstanding a statute that would set venue in the location of the fiduciary's principal office.(c)  A beneficiary of a fiduciary account described by Subsection (b) may elect to bring the action in the county in which the principal office of the first affiliated bank that transferred the account under this subchapter is located.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.Amended by: Acts 2015, 84th Leg., R.S., Ch. 1236 (S.B. 1296), Sec. 20.019, eff. September 1, 2015.|
TX Fin Code § 274.114 (2021)
2021 Texas Statutes|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|Section 274.114. Subsidiary Trust Company as Successor Fiduciary

Sec. 274.114.  SUBSIDIARY TRUST COMPANY AS SUCCESSOR FIDUCIARY.  For purposes of qualifying as successor fiduciary under a document creating a fiduciary account or a statute of this state relating to fiduciary accounts, a subsidiary trust company:(1)  is considered to have capital and surplus in an amount equal to the total of its capital and surplus and the capital and surplus of the bank holding company that owns the company;  and(2)  is treated as a national bank unless it:(A)  is not a national bank under federal law;  and(B)  has not entered into a substitution agreement with an affiliated bank of the company that is a national bank under federal law.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.115 (2021)
2021 Texas Statutes|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|Section 274.115. Bond of Successor Fiduciary

Sec. 274.115.  BOND OF SUCCESSOR FIDUCIARY.  If an affiliated bank of a subsidiary trust company has given bond to secure performance of its duties and the company qualifies as successor fiduciary, the company shall give bond to secure performance of its duties in the same manner as the bank.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.116 (2021)
2021 Texas Statutes|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|Section 274.116. Responsibility for Subsidiary Trust Company

Sec. 274.116.  RESPONSIBILITY FOR SUBSIDIARY TRUST COMPANY.  The bank holding company that owns a subsidiary trust company shall file with the commissioner an irrevocable undertaking to be fully responsible for the fiduciary acts and omissions of the subsidiary trust company.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.201 (2021)
2021 Texas Statutes|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 C. Banks Affiliated With Subsidiary Trust Companies|Section 274.201. Designation of Affiliated Bank as Fiduciary in Will

Sec. 274.201.  DESIGNATION OF AFFILIATED BANK AS FIDUCIARY IN WILL.  The prospective designation in a will or other instrument of an affiliated bank of a subsidiary trust company as fiduciary is also considered a designation of the company as fiduciary and confers on the company any discretionary power granted in the instrument unless:(1)  the bank and company agree in writing to have the designation of the bank as fiduciary be binding;  or(2)  the creator of the fiduciary account, by appropriate language in the document creating the account, provides that the account is not eligible for substitution under this chapter.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.202 (2021)
2021 Texas Statutes|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 C. Banks Affiliated With Subsidiary Trust Companies|Section 274.202. Liability of Affiliated Bank Acting as Fiduciary

Sec. 274.202.  LIABILITY OF AFFILIATED BANK ACTING AS FIDUCIARY.  After a substitution of a subsidiary trust company as fiduciary for an affiliated bank of the company, the bank remains liable for any action taken by the bank as a fiduciary.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 274.203 (2021)
2021 Texas Statutes|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 C. Banks Affiliated With Subsidiary Trust Companies|Section 274.203. Deposit of Money With Affiliated Bank

Sec. 274.203.  DEPOSIT OF MONEY WITH AFFILIATED BANK.  (a)  A subsidiary trust company may deposit with an affiliated bank of the company fiduciary money that is being held pending an investment, distribution, or payment of a debt if:(1)  the company maintains under its control as security for the deposit a separate fund of securities legal for trust investments pledged by the bank;(2)  the total market value of the securities is at all times at least equal to the amount of the deposit;  and(3)  the fund of securities is designated as a separate fund.(b)  The bank may make periodic withdrawals from or additions to the fund of securities required by this section only if the required value is maintained.(c)  Income from securities in the fund belongs to the bank.(d)  Security for a deposit under this section is not required to the extent the deposit is insured or otherwise secured under law.|Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.|
TX Fin Code § 275.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter A. General Provisions|Section 275.001. Short Title

Sec. 275.001.  SHORT TITLE.  This chapter may be cited as the Texas Mutual Trust Investment Company Act.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.002 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter A. General Provisions|Section 275.002. Definitions

Sec. 275.002.  DEFINITIONS.  In this chapter:(1)  "Fiduciary institution" means a:(A)  state bank with trust powers;(B)  national bank with trust powers;  or(C)  trust company.(2)  "Stock" means a unit of participation in the net asset value of one or more of the investment funds of a mutual trust investment company.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.003 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter A. General Provisions|Section 275.003. Application of General Corporation Law

Sec. 275.003.  APPLICATION OF GENERAL CORPORATION LAW.  Except as provided by this chapter, a mutual trust investment company must be incorporated under and is subject to the general corporation laws of this state.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.004 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter A. General Provisions|Section 275.004. Investment of Corporation Assets

Sec. 275.004.  INVESTMENT OF CORPORATION ASSETS.  A mutual trust investment company may invest its assets only in investments in which a trustee may invest under the laws of this state.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.051 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter B. Creation of Mutual Trust Investment Company|Section 275.051. Creation of Mutual Trust Investment Company

Sec. 275.051.  CREATION OF MUTUAL TRUST INVESTMENT COMPANY.  (a)  One or more fiduciary institutions may incorporate a mutual trust investment company as provided by this chapter to be a medium for the common investment of trust funds held in a fiduciary capacity for fiduciary purposes, by those entities alone or with one or more cofiduciaries.(b)  A mutual trust investment company must be an open-end investment company as defined by, and must be subject to, the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.).|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.052 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter B. Creation of Mutual Trust Investment Company|Section 275.052. Incorporators

Sec. 275.052.  INCORPORATORS.  (a)  To incorporate, a mutual trust investment company must have five or more persons subscribe and acknowledge the company's articles of incorporation.(b)  A person subscribing and acknowledging the articles of incorporation of a mutual trust investment company must be an officer or director of a fiduciary institution causing the mutual trust investment company to be incorporated.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.053 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter B. Creation of Mutual Trust Investment Company|Section 275.053. Contents of Articles of Incorporation

Sec. 275.053.  CONTENTS OF ARTICLES OF INCORPORATION.  In addition to the information required by the general corporation laws, the articles of incorporation shall state:(1)  the name of each fiduciary institution causing the corporation to be incorporated;  and(2)  the amount of stock originally subscribed for by each fiduciary institution.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.101 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter C. Administrative Provisions|Section 275.101. Directors

Sec. 275.101.  DIRECTORS.  (a)  Except as provided by Subsection (b), a mutual trust investment company must have at least five directors, each of whom is not required to be a stockholder but must be an officer or director of a bank or trust company that is located in this state.(b)  An officer or director of a bank or trust company not located in this state may serve as a director of a mutual trust investment company only if that officer's or director's bank or trust company owns stock in a fiduciary capacity in the mutual trust investment company.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.102 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter C. Administrative Provisions|Section 275.102. Audits and Reports

Sec. 275.102.  AUDITS AND REPORTS.  (a)  At least once each year, a mutual trust investment company shall cause an adequate audit to be made of the company by auditors responsible only to the board of directors of the company.(b)  A mutual trust investment company shall furnish annually a copy of the company's audited financial statement to each corporate fiduciary owning stock in the company.(c)  The mutual trust investment company shall pay the:(1)  reasonable expenses of an audit required by this section made by an independent public accountant or certified public accountant;  and(2)  costs of preparing and distributing a report required by this section.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.151 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter D. Mutual Trust Investment Company Stock|Section 275.151. Ownership

Sec. 275.151.  OWNERSHIP.  The stock of a mutual trust investment company may be owned only by fiduciary institutions acting as fiduciaries and any of their cofiduciaries.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.152 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter D. Mutual Trust Investment Company Stock|Section 275.152. Registration

Sec. 275.152.  REGISTRATION.  The stock of a mutual trust investment company may be registered in the name of one or more nominees of the owner of the stock.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.153 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter D. Mutual Trust Investment Company Stock|Section 275.153. Transfer and Assignment

Sec. 275.153.  TRANSFER AND ASSIGNMENT.  The stock of a mutual trust investment company may not be transferred except to:(1)  the mutual trust investment company;  or(2)  a fiduciary or cofiduciary that becomes successor to a stockholder and that is a bank or trust company qualified to hold the stock under this chapter.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.154 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter D. Mutual Trust Investment Company Stock|Section 275.154. Ownership by Mutual Trust Investment Company

Sec. 275.154.  OWNERSHIP BY MUTUAL TRUST INVESTMENT COMPANY.  A mutual trust investment company may acquire its own stock and shall bind itself, by contract or its bylaws, to acquire its own stock, but may not vote on shares of its own stock.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.201 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter E. Investment in Mutual Trust Investment Company|Section 275.201. Purchase by Fiduciary; Authority and Restrictions

Sec. 275.201.  PURCHASE BY FIDUCIARY;  AUTHORITY AND RESTRICTIONS.  A fiduciary institution, alone or with one or more cofiduciaries, acting as a fiduciary for fiduciary purposes with the consent of any cofiduciaries, may invest and reinvest funds held in a fiduciary capacity, exercising the care of a prudent investor, in the shares of stock of a mutual trust investment company unless a will, trust indenture, or other instrument under which the fiduciary is acting prohibits that investment.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 275.202 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 275 - Texas Mutual Trust Investment Company Act|Subchapter E. Investment in Mutual Trust Investment Company|Section 275.202. Responsibility of Mutual Trust Investment Company

Sec. 275.202.  RESPONSIBILITY OF MUTUAL TRUST INVESTMENT COMPANY.  (a)  A mutual trust investment company is not:(1)  required to determine the investment powers of a fiduciary that purchases its stock;  or(2)  liable for accepting funds from a fiduciary in violation of the restrictions of a will, trust indenture, or other instrument under which the fiduciary is acting in the absence of actual knowledge of the violation.(b)  A mutual trust investment company is:(1)  accountable only to a fiduciary who is an owner of its stock;  and(2)  permitted to rely on the written statement of any bank or trust company purchasing its stock that the purchase complies with Section 275.201.|Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.26(a), eff. Sept. 1, 1999.|
TX Fin Code § 278.001 (2021)
2021 Texas Statutes|Finance Code|Title 3 - Financial Institutions and Businesses|Subtitle Z - Miscellaneous Provisions Relating to Financial Institutions and Businesses|Chapter 278 - Regulation of Currency Transmissions|Subchapter A. General Provisions|Section 278.001. Definitions

Sec. 278.001.  DEFINITIONS.  In this chapter:(1)  "Currency" has the meaning assigned by Section 151.501.(2)  "Currency transmission business" means engaging in or offering currency transmission as a service or for profit.  The term does not include:(A)  a federally insured financial institution, as defined by Section 201.101, that is organized under the laws of this state, another state, or the United States; or(B)  a title insurance company or title insurance agent, as defined by Section 2501.003, Insurance Code.(3)  "Currency transmission" means receiving currency or an instrument payable in currency in order to transmit the currency or its equivalent by wire, computer modem, facsimile, physical transport, or any other means or through the use of a financial intermediary, the Federal Reserve System, or another funds transfer network.(4)  "Fee" does not include revenue that a currency transmission business generates in connection with a currency transmission in the conversion of a currency of one government into the currency of another government.|Added by Acts 2003, 78th Leg., ch. 1001, Sec. 7, eff. Sept. 1, 2003.Amended by: Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.112, eff. September 1, 2005.Acts 2013, 83rd Leg., R.S., Ch. 988 (H.B. 2134), Sec. 17, eff. September 1, 2013.|