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Bank Of America Resigns Trusteeship Of Permian Basin Royalty Trust

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January 9, 2014

Bank of America (NYSE: BAC) resigned as the trustee of Permian Basin Royalty Trust (NYSE: PBT), said Permian Jan. 9. Bank of America scheduled a meeting for unitholders, where it will nominate Southwest Bank, an independent Forth Worth, Texas-based bank, as its successor trustee, Permian added.

Unitholders will be notified regarding the meeting’s date and place, and of any materials related to it, Permian said.

Permian said the resignation will only occur if Bank of America either meets or waives several terms and conditions. These include verifying the accuracy of certain ...

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