1002.007 – CORPORATE FIDUCIARY. "Corporate fiduciary" means
Texas Estates Code § 1002.007
Summary
This law defines a corporate fiduciary as a financial institution with trust powers authorized to act in various fiduciary roles without needing to post a bond. It applies to institutions operating under Texas law or other jurisdictions that meet specific criteria. This definition is crucial for understanding the legal responsibilities and capabilities of corporate fiduciaries in estate management.
Defines corporate fiduciary as a financial institution with trust powers.
Applies to institutions authorized to act in fiduciary roles.
Exempts certain fiduciaries from posting bond requirements.
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In simple terms: Learn about Texas's CORPORATE FIDUCIARY. "Corporate fiduciary" means law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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