Texas Statutes
Property Code
Title 9 - Trusts

Section 111.0035. Default and Mandatory Rules; Conflict Between Terms and Statute - Sec. 111.0035. DEFAULT AND MANDATORY RULES; CONFLICT BETWEEN TERMS AND...

Section 111.004. Definitions - Sec. 111.004. DEFINITIONS. In this subtitle: (1) "Affiliate" includes: (A)...

Section 111.005. Reenactment of Common Law - Sec. 111.005. REENACTMENT OF COMMON LAW. If the law codified...

Section 111.006. Application - Sec. 111.006. APPLICATION. This subtitle applies: (1) to all trusts...

Chapter 112 - Creation, Validity, Modification, and Termination of Trusts

Subchapter A. Creation

Section 112.001. Methods of Creating Trust - Sec. 112.001. METHODS OF CREATING TRUST. A trust may be...

Section 112.002. Intention to Create Trust - Sec. 112.002. INTENTION TO CREATE TRUST. A trust is created...

Section 112.003. Consideration - Sec. 112.003. CONSIDERATION. Consideration is not required for the creation...

Section 112.004. Statute of Frauds - Sec. 112.004. STATUTE OF FRAUDS. A trust in either real...

Section 112.005. Trust Property - Sec. 112.005. TRUST PROPERTY. A trust cannot be created unless...

Section 112.006. Additions to Trust Property - Sec. 112.006. ADDITIONS TO TRUST PROPERTY. Property may be added...

Section 112.007. Capacity of Settlor - Sec. 112.007. CAPACITY OF SETTLOR. A person has the same...

Section 112.008. Capacity of Trustee - Sec. 112.008. CAPACITY OF TRUSTEE. (a) The trustee must have...

Section 112.009. Acceptance by Trustee - Sec. 112.009. ACCEPTANCE BY TRUSTEE. (a) The signature of the...

Section 112.010. Presumed Acceptance by Beneficiary; Disclaimer - Sec. 112.010. PRESUMED ACCEPTANCE BY BENEFICIARY; DISCLAIMER. (a) Acceptance by...

Section 112.011. Posthumous Class Gifts Membership - Sec. 112.011. POSTHUMOUS CLASS GIFTS MEMBERSHIP. (a) A right to...

Subchapter B. Validity

Section 112.031. Trust Purposes - Sec. 112.031. TRUST PURPOSES. A trust may be created for...

Section 112.032. Active and Passive Trusts; Statute of Uses - Sec. 112.032. ACTIVE AND PASSIVE TRUSTS; STATUTE OF USES. (a)...

Section 112.033. Reservation of Interests and Powers by Settlor - Sec. 112.033. RESERVATION OF INTERESTS AND POWERS BY SETTLOR. If...

Section 112.0335. Construction of Certain Trusts - Sec. 112.0335. CONSTRUCTION OF CERTAIN TRUSTS. (a) Unless the terms...

Section 112.034. Merger - Sec. 112.034. MERGER. (a) If a settlor transfers both the...

Section 112.035. Spendthrift Trusts - Sec. 112.035. SPENDTHRIFT TRUSTS. (a) A settlor may provide in...

Section 112.036. Rule Against Perpetuities - Sec. 112.036. RULE AGAINST PERPETUITIES. (a) The rule against perpetuities...

Section 112.037. Trust for Care of Animal - Sec. 112.037. TRUST FOR CARE OF ANIMAL. (a) A trust...

Section 112.038. Forfeiture Clause - Sec. 112.038. FORFEITURE CLAUSE. (a) A provision in a trust...

Subchapter C. Revocation, Modification, and Termination of Trusts

Section 112.051. Revocation, Modification, or Amendment by Settlor - Sec. 112.051. REVOCATION, MODIFICATION, OR AMENDMENT BY SETTLOR. (a) A...

Section 112.052. Termination - Sec. 112.052. TERMINATION. A trust terminates if by its terms...

Section 112.053. Disposition of Trust Property on Failure of Trust - Sec. 112.053. DISPOSITION OF TRUST PROPERTY ON FAILURE OF TRUST....

Section 112.054. Judicial Modification, Reformation, or Termination of Trusts - Sec. 112.054. JUDICIAL MODIFICATION, REFORMATION, OR TERMINATION OF TRUSTS. (a)...

Section 112.056. Permissive Amendment by Trustee of Charitable Trust - Sec. 112.056. PERMISSIVE AMENDMENT BY TRUSTEE OF CHARITABLE TRUST. (a)...

Section 112.057. Division and Combination of Trusts - Sec. 112.057. DIVISION AND COMBINATION OF TRUSTS. (a) The trustee...

Section 112.058. Conversion of Community Trust to Nonprofit Corporation - Sec. 112.058. CONVERSION OF COMMUNITY TRUST TO NONPROFIT CORPORATION. (a)...

Section 112.059. Termination of Uneconomic Trust - Sec. 112.059. TERMINATION OF UNECONOMIC TRUST. (a) After notice to...

Subchapter D. Distribution of Trust Principal in Further Trust

Section 112.071. Definitions - Sec. 112.071. DEFINITIONS. In this subchapter: (1) "Authorized trustee" means...

Section 112.0715. Creation of Second Trust - Sec. 112.0715. CREATION OF SECOND TRUST. (a) A second trust...

Section 112.072. Distribution to Second Trust: Trustee With Full Discretion - Sec. 112.072. DISTRIBUTION TO SECOND TRUST: TRUSTEE WITH FULL DISCRETION....

Section 112.073. Distribution to Second Trust: Trustee With Limited Discretion - Sec. 112.073. DISTRIBUTION TO SECOND TRUST: TRUSTEE WITH LIMITED DISCRETION....

Section 112.074. Notice Required - Sec. 112.074. NOTICE REQUIRED. (a) An authorized trustee may exercise...

Section 112.075. Written Instrument Required - Sec. 112.075. WRITTEN INSTRUMENT REQUIRED. A distribution under Section 112.072...

Section 112.076. Reference to Trust Terms - Sec. 112.076. REFERENCE TO TRUST TERMS. A reference to the...

Section 112.077. Settlor of Second Trust - Sec. 112.077. SETTLOR OF SECOND TRUST. (a) Except as provided...

Section 112.078. Court-Ordered Distribution - Sec. 112.078. COURT-ORDERED DISTRIBUTION. (a) An authorized trustee may petition...

Section 112.079. Divided Discretion - Sec. 112.079. DIVIDED DISCRETION. If an authorized trustee has full...

Section 112.080. Later Discovered Assets - Sec. 112.080. LATER DISCOVERED ASSETS. To the extent the authorized...

Section 112.081. Other Authority to Distribute in Further Trust Not Limited - Sec. 112.081. OTHER AUTHORITY TO DISTRIBUTE IN FURTHER TRUST NOT...

Section 112.082. Need for Distribution Not Required - Sec. 112.082. NEED FOR DISTRIBUTION NOT REQUIRED. An authorized trustee...

Section 112.083. Duties Not Created - Sec. 112.083. DUTIES NOT CREATED. (a) This subchapter does not...

Section 112.084. Certain Distributions Prohibited - Sec. 112.084. CERTAIN DISTRIBUTIONS PROHIBITED. (a) Except as provided by...

Section 112.085. Exceptions to Power of Distribution - Sec. 112.085. EXCEPTIONS TO POWER OF DISTRIBUTION. An authorized trustee...

Section 112.086. Tax-Related Limitations - Sec. 112.086. TAX-RELATED LIMITATIONS. (a) The authorized trustee may not...

Section 112.087. Compensation of Trustee - Sec. 112.087. COMPENSATION OF TRUSTEE. (a) Except as provided by...

Subchapter E. Effect of Dissolution of Marriage on Certain Transfers in Trust

Section 112.101. Definitions - Sec. 112.101. DEFINITIONS. In this subchapter: (1) "Disposition or appointment...

Section 112.102. Revocation of Certain Nontestamentary Transfers; Treatment of Former Spouse or Former Spouse's Relative as Beneficiary Under Certain Policies or Plans - Sec. 112.102. REVOCATION OF CERTAIN NONTESTAMENTARY TRANSFERS; TREATMENT OF FORMER...

Section 112.103. Effect of Revocation - Sec. 112.103. EFFECT OF REVOCATION. (a) An interest granted in...

Section 112.104. Liability of Certain Purchasers or Recipients of Certain Payments, Benefits, or Property - Sec. 112.104. LIABILITY OF CERTAIN PURCHASERS OR RECIPIENTS OF CERTAIN...

Section 112.105. Liability of Former Spouse or Former Spouse's Relative for Certain Payments, Benefits, or Property - Sec. 112.105. LIABILITY OF FORMER SPOUSE OR FORMER SPOUSE'S RELATIVE...

Section 112.106. Certain Trusts With Divorced Individuals as Joint Settlors - Sec. 112.106. CERTAIN TRUSTS WITH DIVORCED INDIVIDUALS AS JOINT SETTLORS....

Chapter 113 - Administration

Subchapter A. Powers of Trustee

Section 113.001. Limitation of Powers - Sec. 113.001. LIMITATION OF POWERS. A power given to a...

Section 113.002. General Powers - Sec. 113.002. GENERAL POWERS. Except as provided by Section 113.001,...

Section 113.003. Options - Sec. 113.003. OPTIONS. A trustee may: (1) grant an option...

Section 113.004. Additions to Trust Assets - Sec. 113.004. ADDITIONS TO TRUST ASSETS. A trustee may receive...

Section 113.005. Acquisition of Undivided Interests - Sec. 113.005. ACQUISITION OF UNDIVIDED INTERESTS. A trustee may acquire...

Section 113.006. General Authority to Manage and Invest Trust Property - Sec. 113.006. GENERAL AUTHORITY TO MANAGE AND INVEST TRUST PROPERTY....

Section 113.007. Temporary Deposits of Funds - Sec. 113.007. TEMPORARY DEPOSITS OF FUNDS. A trustee may deposit...

Section 113.008. Business Entities - Sec. 113.008. BUSINESS ENTITIES. A trustee may invest in, continue,...

Section 113.009. Real Property Management - Sec. 113.009. REAL PROPERTY MANAGEMENT. A trustee may: (1) exchange,...

Section 113.010. Sale of Property - Sec. 113.010. SALE OF PROPERTY. A trustee may contract to...

Section 113.011. Leases - Sec. 113.011. LEASES. (a) A trustee may grant or take...

Section 113.012. Minerals - Sec. 113.012. MINERALS. (a) A trustee may enter into mineral...

Section 113.013. Insurance - Sec. 113.013. INSURANCE. A trustee may purchase insurance of any...

Section 113.014. Payment of Taxes - Sec. 113.014. PAYMENT OF TAXES. A trustee may pay taxes...

Section 113.015. Authority to Borrow - Sec. 113.015. AUTHORITY TO BORROW. A trustee may borrow money...

Section 113.016. Management of Securities - Sec. 113.016. MANAGEMENT OF SECURITIES. A trustee may: (1) pay...

Section 113.017. Corporate Stock or Other Securities Held in Name of Nominee - Sec. 113.017. CORPORATE STOCK OR OTHER SECURITIES HELD IN NAME...

Section 113.018. Employment and Appointment of Agents - Sec. 113.018. EMPLOYMENT AND APPOINTMENT OF AGENTS. (a) A trustee...

Section 113.019. Claims - Sec. 113.019. CLAIMS. A trustee may compromise, contest, arbitrate, or...

Section 113.020. Burdensome or Worthless Property - Sec. 113.020. BURDENSOME OR WORTHLESS PROPERTY. A trustee may abandon...

Section 113.021. Distribution to Minor or Incapacitated Beneficiary - Sec. 113.021. DISTRIBUTION TO MINOR OR INCAPACITATED BENEFICIARY. (a) A...

Section 113.0211. Adjustment of Charitable Trust - Sec. 113.0211. ADJUSTMENT OF CHARITABLE TRUST. (a) In this section:...

Section 113.022. Power to Provide Residence and Pay Funeral Expenses - Sec. 113.022. POWER TO PROVIDE RESIDENCE AND PAY FUNERAL EXPENSES....

Section 113.023. Ancillary Trustee - Sec. 113.023. ANCILLARY TRUSTEE. (a) If trust property is situated...

Section 113.024. Implied Powers - Sec. 113.024. IMPLIED POWERS. The powers, duties, and responsibilities under...

Section 113.025. Powers of Trustee Regarding Environmental Laws - Sec. 113.025. POWERS OF TRUSTEE REGARDING ENVIRONMENTAL LAWS. (a) A...

Section 113.026. Authority to Designate New Charitable Beneficiary - Sec. 113.026. AUTHORITY TO DESIGNATE NEW CHARITABLE BENEFICIARY. (a) In...

Section 113.027. Distributions Generally - Sec. 113.027. DISTRIBUTIONS GENERALLY. When distributing trust property or dividing...

Section 113.028. Certain Claims and Causes of Action Prohibited - Sec. 113.028. CERTAIN CLAIMS AND CAUSES OF ACTION PROHIBITED. (a)...

Section 113.029. Discretionary Powers; Tax Savings - Sec. 113.029. DISCRETIONARY POWERS; TAX SAVINGS. (a) Notwithstanding the breadth...

Section 113.030. Relocation of Administration of Charitable Trust - Sec. 113.030. RELOCATION OF ADMINISTRATION OF CHARITABLE TRUST. (a) In...

Section 113.031. Digital Assets - Sec. 113.031. DIGITAL ASSETS. (a) In this section, "digital asset"...

Subchapter B. Duties of Trustee

Section 113.051. General Duty - Sec. 113.051. GENERAL DUTY. The trustee shall administer the trust...

Section 113.052. Loan of Trust Funds to Trustee - Sec. 113.052. LOAN OF TRUST FUNDS TO TRUSTEE. (a) Except...

Section 113.053. Purchase or Sale of Trust Property by Trustee - Sec. 113.053. PURCHASE OR SALE OF TRUST PROPERTY BY TRUSTEE....

Section 113.054. Sales From One Trust to Another - Sec. 113.054. SALES FROM ONE TRUST TO ANOTHER. A trustee...

Section 113.055. Purchase of Trustee's Securities - Sec. 113.055. PURCHASE OF TRUSTEE'S SECURITIES. (a) Except as provided...

Section 113.056. Authorization to Make Certain Investments - Sec. 113.056. AUTHORIZATION TO MAKE CERTAIN INVESTMENTS. (a) Unless the...

Section 113.057. Deposits by Corporate Trustee With Itself - Sec. 113.057. DEPOSITS BY CORPORATE TRUSTEE WITH ITSELF. (a) A...

Section 113.058. Bond - Sec. 113.058. BOND. (a) A corporate trustee is not required...

Subchapter C. Resignation or Removal of Trustee, and Authority of Multiple and Successor Trustees

Section 113.081. Resignation of Trustee - Sec. 113.081. RESIGNATION OF TRUSTEE. (a) A trustee may resign...

Section 113.082. Removal of Trustee - Sec. 113.082. REMOVAL OF TRUSTEE. (a) A trustee may be...

Section 113.083. Appointment of Successor Trustee - Sec. 113.083. APPOINTMENT OF SUCCESSOR TRUSTEE. (a) On the death,...

Section 113.084. Powers of Successor Trustee - Sec. 113.084. POWERS OF SUCCESSOR TRUSTEE. Unless otherwise provided in...

Section 113.085. Exercise of Powers by Multiple Trustees - Sec. 113.085. EXERCISE OF POWERS BY MULTIPLE TRUSTEES. (a) Cotrustees...

Subchapter E. Accounting by Trustee

Section 113.151. Demand for Accounting - Sec. 113.151. DEMAND FOR ACCOUNTING. (a) A beneficiary by written...

Section 113.152. Contents of Accounting - Sec. 113.152. CONTENTS OF ACCOUNTING. A written statement of accounts...

Subchapter F. Common Trust Funds

Section 113.171. Common Trust Funds - Sec. 113.171. COMMON TRUST FUNDS. (a) A bank or trust...

Section 113.172. Affiliated Institutions - Sec. 113.172. AFFILIATED INSTITUTIONS. A bank or trust company that...

Chapter 114 - Liabilities, Rights, and Remedies of Trustees, Beneficiaries, and Third Persons

Subchapter A. Liability of Trustee

Section 114.001. Liability of Trustee to Beneficiary - Sec. 114.001. LIABILITY OF TRUSTEE TO BENEFICIARY. (a) The trustee...

Section 114.002. Liability of Successor Trustee for Breach of Trust by Predecessor - Sec. 114.002. LIABILITY OF SUCCESSOR TRUSTEE FOR BREACH OF TRUST...

Section 114.003. Powers to Direct: Charitable Trusts - Sec. 114.003. POWERS TO DIRECT: CHARITABLE TRUSTS. (a) In this...

Section 114.0031. Directed Trusts; Advisors - Sec. 114.0031. DIRECTED TRUSTS; ADVISORS. (a) In this section: (1)...

Section 114.004. Actions Taken Prior to Knowledge or Notice of Facts - Sec. 114.004. ACTIONS TAKEN PRIOR TO KNOWLEDGE OR NOTICE OF...

Section 114.005. Release of Liability by Beneficiary - Sec. 114.005. RELEASE OF LIABILITY BY BENEFICIARY. (a) A beneficiary...

Section 114.006. Liability of Cotrustees for Acts of Other Cotrustees - Sec. 114.006. LIABILITY OF COTRUSTEES FOR ACTS OF OTHER COTRUSTEES....

Section 114.007. Exculpation of Trustee - Sec. 114.007. EXCULPATION OF TRUSTEE. (a) A term of a...

Section 114.008. Remedies for Breach of Trust - Sec. 114.008. REMEDIES FOR BREACH OF TRUST. (a) To remedy...

Subchapter B. Liability of Beneficiary

Section 114.031. Liability of Beneficiary to Trustee - Sec. 114.031. LIABILITY OF BENEFICIARY TO TRUSTEE. (a) A beneficiary...

Section 114.032. Liability for Written Agreements - Sec. 114.032. LIABILITY FOR WRITTEN AGREEMENTS. (a) A written agreement...

Subchapter C. Rights of Trustee

Section 114.061. Compensation - Sec. 114.061. COMPENSATION. (a) Unless the terms of the trust...

Section 114.062. Exoneration or Reimbursement for Tort - Sec. 114.062. EXONERATION OR REIMBURSEMENT FOR TORT. (a) Except as...

Section 114.063. General Right to Reimbursement - Sec. 114.063. GENERAL RIGHT TO REIMBURSEMENT. (a) A trustee may...

Section 114.064. Costs - Sec. 114.064. COSTS. (a) In any proceeding under this code...

Subchapter D. Third Persons

Section 114.081. Protection of Person Dealing With Trustee - Sec. 114.081. PROTECTION OF PERSON DEALING WITH TRUSTEE. (a) A...

Section 114.082. Conveyance by Trustee - Sec. 114.082. CONVEYANCE BY TRUSTEE. If property is conveyed or...

Section 114.0821. Liability of Trust Property - Sec. 114.0821. LIABILITY OF TRUST PROPERTY. Although trust property is...

Section 114.083. Rights and Liabilities for Committing Torts - Sec. 114.083. RIGHTS AND LIABILITIES FOR COMMITTING TORTS. (a) A...

Section 114.084. Contracts of Trustee - Sec. 114.084. CONTRACTS OF TRUSTEE. (a) If a trustee or...

Section 114.085. Partnerships - Sec. 114.085. PARTNERSHIPS. (a) To the extent allowed by law,...

Section 114.086. Certification of Trust - Sec. 114.086. CERTIFICATION OF TRUST. (a) As an alternative to...

Chapter 115 - Jurisdiction, Venue, and Proceedings

Subchapter A. Jurisdiction and Venue

Section 115.001. Jurisdiction - Sec. 115.001. JURISDICTION. (a) Except as provided by Subsection (d)...

Section 115.002. Venue - Sec. 115.002. VENUE. (a) The venue of an action under...

Subchapter B. Parties, Procedure, and Judgments

Section 115.011. Parties - Sec. 115.011. PARTIES. (a) Any interested person may bring an...

Section 115.012. Rules of Procedure - Sec. 115.012. RULES OF PROCEDURE. Except as otherwise provided, all...

Section 115.013. Pleadings and Judgments - Sec. 115.013. PLEADINGS AND JUDGMENTS. (a) Actions and proceedings involving...

Section 115.014. Guardian or Attorney Ad Litem - Sec. 115.014. GUARDIAN OR ATTORNEY AD LITEM. (a) At any...

Section 115.015. Notice to Beneficiaries of Tort or Contract Proceeding - Sec. 115.015. NOTICE TO BENEFICIARIES OF TORT OR CONTRACT PROCEEDING....

Section 115.016. Notice - Sec. 115.016. NOTICE. (a) If notice of hearing on a...

Section 115.017. Waiver of Notice - Sec. 115.017. WAIVER OF NOTICE. A person, including a guardian...

Chapter 116 - Uniform Principal and Income Act

Subchapter A. Definitions, Fiduciary Duties, and Other Miscellaneous Provisions

Section 116.001. Short Title - Sec. 116.001. SHORT TITLE. This chapter may be cited as...

Section 116.002. Definitions - Sec. 116.002. DEFINITIONS. In this chapter: (1) "Accounting period" means...

Section 116.003. Uniformity of Application and Construction - Sec. 116.003. UNIFORMITY OF APPLICATION AND CONSTRUCTION. In applying and...

Section 116.004. Fiduciary Duties; General Principles - Sec. 116.004. FIDUCIARY DUTIES; GENERAL PRINCIPLES. (a) In allocating receipts...

Section 116.005. Trustee's Power to Adjust - Sec. 116.005. TRUSTEE'S POWER TO ADJUST. (a) A trustee may...

Section 116.006. Judicial Control of Discretionary Power - Sec. 116.006. JUDICIAL CONTROL OF DISCRETIONARY POWER. (a) The court...

Subchapter B. Decedent's Estate or Terminating Income Interest

Section 116.051. Determination and Distribution of Net Income - Sec. 116.051. DETERMINATION AND DISTRIBUTION OF NET INCOME. After a...

Section 116.052. Distribution to Residuary and Remainder Beneficiaries - Sec. 116.052. DISTRIBUTION TO RESIDUARY AND REMAINDER BENEFICIARIES. (a) Each...

Subchapter C. Apportionment at Beginning and End of Income Interest

Section 116.101. When Right to Income Begins and Ends - Sec. 116.101. WHEN RIGHT TO INCOME BEGINS AND ENDS. (a)...

Section 116.102. Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins - Sec. 116.102. APPORTIONMENT OF RECEIPTS AND DISBURSEMENTS WHEN DECEDENT DIES...

Section 116.103. Apportionment When Income Interest Ends - Sec. 116.103. APPORTIONMENT WHEN INCOME INTEREST ENDS. (a) In this...

Subchapter D. Allocation of Receipts During Administration of Trust

Part 1. Receipts From Entities

Section 116.151. Character of Receipts - Sec. 116.151. CHARACTER OF RECEIPTS. (a) In this section, "entity"...

Section 116.152. Distribution From Trust or Estate - Sec. 116.152. DISTRIBUTION FROM TRUST OR ESTATE. A trustee shall...

Section 116.153. Business and Other Activities Conducted by Trustee - Sec. 116.153. BUSINESS AND OTHER ACTIVITIES CONDUCTED BY TRUSTEE. (a)...

Part 2. Receipts Not Normally Apportioned

Section 116.161. Principal Receipts - Sec. 116.161. PRINCIPAL RECEIPTS. A trustee shall allocate to principal:...

Section 116.162. Rental Property - Sec. 116.162. RENTAL PROPERTY. To the extent that a trustee...

Section 116.163. Obligation to Pay Money - Sec. 116.163. OBLIGATION TO PAY MONEY. (a) An amount received...

Section 116.164. Insurance Policies and Similar Contracts - Sec. 116.164. INSURANCE POLICIES AND SIMILAR CONTRACTS. (a) Except as...

Part 3. Receipts Normally Apportioned

Section 116.171. Insubstantial Allocations Not Required - Sec. 116.171. INSUBSTANTIAL ALLOCATIONS NOT REQUIRED. If a trustee determines...

Section 116.172. Deferred Compensation, Annuities, and Similar Payments - Sec. 116.172. DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR PAYMENTS. (a) In...

Section 116.173. Liquidating Asset - Sec. 116.173. LIQUIDATING ASSET. (a) In this section, "liquidating asset"...

Section 116.174. Minerals, Water, and Other Natural Resources - Sec. 116.174. MINERALS, WATER, AND OTHER NATURAL RESOURCES. (a) To...

Section 116.175. Timber - Sec. 116.175. TIMBER. (a) To the extent that a trustee...

Section 116.176. Property Not Productive of Income - Sec. 116.176. PROPERTY NOT PRODUCTIVE OF INCOME. (a) If a...

Section 116.177. Derivatives and Options - Sec. 116.177. DERIVATIVES AND OPTIONS. (a) In this section, "derivative"...

Section 116.178. Asset-Backed Securities - Sec. 116.178. ASSET-BACKED SECURITIES. (a) In this section, "asset-backed security"...

Subchapter E. Allocation of Disbursements During Administration of Trust

Section 116.201. Disbursements From Income - Sec. 116.201. DISBURSEMENTS FROM INCOME. A trustee shall make the...

Section 116.202. Disbursements From Principal - Sec. 116.202. DISBURSEMENTS FROM PRINCIPAL. (a) A trustee shall make...

Section 116.203. Transfers From Income to Principal for Depreciation - Sec. 116.203. TRANSFERS FROM INCOME TO PRINCIPAL FOR DEPRECIATION. (a)...

Section 116.204. Transfers From Income to Reimburse Principal - Sec. 116.204. TRANSFERS FROM INCOME TO REIMBURSE PRINCIPAL. (a) If...

Section 116.205. Income Taxes - Sec. 116.205. INCOME TAXES. (a) A tax required to be...

Section 116.206. Adjustments Between Principal and Income Because of Taxes - Sec. 116.206. ADJUSTMENTS BETWEEN PRINCIPAL AND INCOME BECAUSE OF TAXES....

Chapter 117 - Uniform Prudent Investor Act

Section 117.001. Short Title - Sec. 117.001. SHORT TITLE. This chapter may be cited as...

Section 117.002. Uniformity of Application and Construction - Sec. 117.002. UNIFORMITY OF APPLICATION AND CONSTRUCTION. This chapter shall...

Section 117.003. Prudent Investor Rule - Sec. 117.003. PRUDENT INVESTOR RULE. (a) Except as otherwise provided...

Section 117.004. Standard of Care; Portfolio Strategy; Risk and Return Objectives - Sec. 117.004. STANDARD OF CARE; PORTFOLIO STRATEGY; RISK AND RETURN...

Section 117.005. Diversification - Sec. 117.005. DIVERSIFICATION. A trustee shall diversify the investments of...

Section 117.006. Duties at Inception of Trusteeship - Sec. 117.006. DUTIES AT INCEPTION OF TRUSTEESHIP. Within a reasonable...

Section 117.007. Loyalty - Sec. 117.007. LOYALTY. A trustee shall invest and manage the...

Section 117.008. Impartiality - Sec. 117.008. IMPARTIALITY. If a trust has two or more...

Section 117.009. Investment Costs - Sec. 117.009. INVESTMENT COSTS. In investing and managing trust assets,...

Section 117.010. Reviewing Compliance - Sec. 117.010. REVIEWING COMPLIANCE. Compliance with the prudent investor rule...

Section 117.011. Delegation of Investment and Management Functions - Sec. 117.011. DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS. (a) A...

Section 117.012. Language Invoking Standard of Chapter - Sec. 117.012. LANGUAGE INVOKING STANDARD OF CHAPTER. The following terms...

Subtitle C - Miscellaneous Trusts

Chapter 121 - Employees' Trusts

Subchapter A. Pension Trusts

Section 121.001. Pension Trusts - Sec. 121.001. PENSION TRUSTS. (a) For the purposes of this...

Section 121.002. Employees of Controlled Corporations - Sec. 121.002. EMPLOYEES OF CONTROLLED CORPORATIONS. For the purposes of...

Section 121.003. Application of Texas Trust Code - Sec. 121.003. APPLICATION OF TEXAS TRUST CODE. The Texas Trust...

Section 121.004. Rule Against Perpetuities - Sec. 121.004. RULE AGAINST PERPETUITIES. A pension trust may continue...

Section 121.005. Accumulation of Income - Sec. 121.005. ACCUMULATION OF INCOME. Notwithstanding any law limiting the...

Subchapter B. Death Benefits Under Employees' Trusts

Section 121.051. Definitions - Sec. 121.051. DEFINITIONS. (a) In this subchapter: (1) "Death benefit"...

Section 121.052. Payment of Death Benefit to Trustee - Sec. 121.052. PAYMENT OF DEATH BENEFIT TO TRUSTEE. (a) A...

Section 121.053. Validity of Trust Declaration - Sec. 121.053. VALIDITY OF TRUST DECLARATION. The validity of a...

Section 121.054. Unclaimed Benefits - Sec. 121.054. UNCLAIMED BENEFITS. If a trustee does not claim...

Section 121.055. Exemption From Taxes and Debts - Sec. 121.055. EXEMPTION FROM TAXES AND DEBTS. Unless the trust...

Section 121.056. Commingling of Assets - Sec. 121.056. COMMINGLING OF ASSETS. A trustee who receives a...

Section 121.057. Prior Designations Not Affected - Sec. 121.057. PRIOR DESIGNATIONS NOT AFFECTED. This subchapter does not...

Section 121.058. Construction - Sec. 121.058. CONSTRUCTION. (a) This subchapter is intended to be...

Chapter 123 - Attorney General Participation in Proceedings Involving Charitable Trusts

Section 123.001. Definitions - Sec. 123.001. DEFINITIONS. In this chapter: (1) "Charitable entity" means...

Section 123.002. Attorney General's Participation - Sec. 123.002. ATTORNEY GENERAL'S PARTICIPATION. For and on behalf of...

Section 123.003. Notice - Sec. 123.003. NOTICE. (a) Any party initiating a proceeding involving...

Section 123.004. Voidable Judgment or Agreement - Sec. 123.004. VOIDABLE JUDGMENT OR AGREEMENT. (a) A judgment in...

Section 123.005. Breach of Fiduciary Duty: Venue; Jurisdiction - Sec. 123.005. BREACH OF FIDUCIARY DUTY: VENUE; JURISDICTION. (a) Venue...

Section 123.006. Attorney's Fees - Sec. 123.006. ATTORNEY'S FEES. (a) In a proceeding subject to...

Chapter 124 - Partition of Mineral Interests of Charitable Trust

Section 124.001. Definitions - Sec. 124.001. DEFINITIONS. In this chapter: (1) "Charitable entity" means...

Section 124.002. Compulsory Divestment Prohibited - Sec. 124.002. COMPULSORY DIVESTMENT PROHIBITED. In a suit or other...

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Texas Statutes Property Code Title 9 - Trusts

Texas Statutes
Property Code
Title 9 - Trusts