Sec. 125.308. EFFECT OF DEATH OF TRUSTEE ON ACCOUNT. (a) The death of a trustee does not affect the ownership or disposition of a trust account unless: (1) the trust agreement provides otherwise; or (2) there is not a surviving trustee, and: (A) the account is a trust account subject to Subchapter B , Chapter 111 , and Chapters 112 and 113 , Estates Code; or (B) written evidence of the terms of the trust does not exist. (b) On the death of a trustee for a trust account for which the death of a trustee affects the ownership disposition of the account, the credit union shall pay out money in the trust account: (1) in accordance with the trust agreement; or (2) in the absence of written evidence of the terms of the trust, to a beneficiary or any other person authorized by law to request or receive payment.
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