Texas Approval of transfer of outstanding stock with copy of Liquidating Trust Agreement
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How to fill out Approval Of Transfer Of Outstanding Stock With Copy Of Liquidating Trust Agreement?
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FAQ
In 2005, the Texas Legislature enacted Texas Property Code Section 113.060 that imposed on trustees a duty to keep beneficiaries reasonably informed concerning the trust's administration and ?the material facts necessary for the beneficiaries to protect [their] interests.?
Texas Property Code Section 115.001 provides:[A] district court has original and exclusive jurisdiction over all proceedings by or against a trustee and all proceedings concerning trusts, including proceedings to: (1) construe a trust instrument; (2) determine the law applicable to a trust instrument; (3) appoint or ...
Section 113.151 - Demand for Accounting (a) A beneficiary by written demand may request the trustee to deliver to each beneficiary of the trust a written statement of accounts covering all transactions since the last accounting or since the creation of the trust, whichever is later.
113.001. LIMITATION OF POWERS. A power given to a trustee by this subchapter does not apply to a trust to the extent that the instrument creating the trust, a subsequent court order, or another provision of this subtitle conflicts with or limits the power. Amended by Acts 1983, 68th Leg., p.
ESTATES CODE CHAPTER 113. MULTIPLE-PARTY ACCOUNTS. (C) another similar arrangement. (2) "Beneficiary" means a person or trustee of an express trust evidenced by a writing who is named in a trust account as a person for whom a party to the account is named as trustee.
113.001. TAX LIABILITY SECURED BY LIEN. (a) All taxes, fines, interest, and penalties due by a person to the state under this title are secured by a lien on all of the person's property that is subject to execution. (b) The lien for taxes attaches to all of the property of a person liable for the taxes.
An organization will be considered a liquidating trust if it is organized for the primary purpose of liquidating and distributing the assets transferred to it, and if its activities are all reasonably necessary to, and consistent with, the accomplishment of that purpose.
However, if a liquidating trust is established for a corporation that is in bankruptcy, an EIN for that trust is required.