SECTION 334.16. Limits on Liability of Corporate Fiduciary

(a) A corporate fiduciary or its agent(s) is not liable in an individual capacity as an owner or operator under this chapter solely because:

(1) the corporate fiduciary or its agent has legal title to real or personal property for purposes of administering a trust or estate of which the property is a part; or

(2) the corporate fiduciary or its agent does not have legal title to the real or personal property but operates or manages the property under the terms of an estate or trust of which the property is a part.

(b) Subsection (a) of this section does not relieve a trust, estate, or beneficiary of any liability the trust, estate, or beneficiary may have as an owner or operator under this chapter.

Source Note: The provisions of this §334.16 adopted to be effective November 8, 1995, 20 TexReg 8800.