Port Arthur Trust Company v. Muldrow

On October 9, 1953, a charter was issued by the then Secretary of State to “Port Arthur Trust Company” under the provisions of Article 1303b, Texas Revised Civil Statutes. By the charter the corporation (hereinafter called Trust Company) possessed the power “to act as Trustee under any lawful express trust committed to it by contract or will, or under appointment of any court, * * * and as agent for the performance of any lawful act.” Said Trust Company is still a live and going corporation and has been at all times since its incorporation. The Trust Company was named trustee in instruments…