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Texas Bill HB1552 Qualified Release Relief To Trustees

H.B. 1552 bill in Texas has been submitted that would provide a trustee release relief for transactions described in an accounting where a beneficiary fails to timely object to the accounting and there is no fraud, intentional misrepresentation, or material omission. ....

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New Texas Bill Would Provide Qualified Release Relief To Trustees Who Deliver Adequate Accountings Without A Timely Objection By The Beneficiary | Winstead PC

A recent bill (H.B. 1552) has been submitted that would provide a trustee release relief for transactions described in an accounting where a beneficiary fails to timely object to the. ....

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Texas Legislature to Consider Oil and Gas Lien Law Amendment | Gray Reed

To embed, copy and paste the code into your website or blog:
Texas lien law in some cases does not require the filing of a financing statement for priority perfection. However, as you might have learned in
In re First River Energy, the Delaware Uniform Commercial Code did not recognize the priority of Texas producers’ unfiled, unperfected security interests in proceeds under Texas Business and Commerce Code Section 9.343. In contrast, Oklahoma Producers prevailed because the Oklahoma Lien Act in 2010 cured a defect still present in the Texas statute. Texas producers with a lien are subject to UCC choice-of-law, priority, and perfection of security interests rules. ....

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Texas Bill Would Provide Release Relief To Trustees Who Deliver Adequate Accountings

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New Texas Bill Would Provide Release Relief To Trustees Who Deliver Adequate Accountings Without A Timely Objection By The Beneficiary
Tuesday, March 16, 2021
A recent bill has been submitted that would provide a trustee release relief for transactions described in an accounting where a beneficiary fails to timely object to the accounting and there is no fraud, intentional misrepresentation, or material omission. The bill provides:
Sec. 113.153. BENEFICIARY’S APPROVAL OF ACCOUNTING.
(a) This section does not apply to a trust that is under judicial supervision.
(b) If a beneficiary does not object to a trustee’s accounting before the 180th day after the date a copy of the accounting has been delivered to the last known address of the beneficiary: (1) the beneficiary is considered to have approved the accounting; and (2) absent fraud, intentional misrepresentation, or material omission, the trustee is released from liability relati ....

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New Texas Bill Would Provide Release Relief To Trustees Who Deliver Adequate Accountings Without A Timely Objection By The Beneficiary | Winstead PC

New Texas Bill Would Provide Release Relief To Trustees Who Deliver Adequate Accountings Without A Timely Objection By The Beneficiary | Winstead PC
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