Sec. 114.004. ACTIONS TAKEN PRIOR TO KNOWLEDGE OR NOTICE OF FACTS. A trustee is not liable for a mistake of fact made before the trustee has actual knowledge or receives written notice of the happening of any event that determines or affects the distribution of the income or principal of the trust, including marriage, divorce, attainment of a certain age, performance of education requirements, or death.
Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.
Structure Texas Statutes
Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts
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
Section 114.002. Liability of Successor Trustee for Breach of Trust by Predecessor
Section 114.003. Powers to Direct: Charitable Trusts
Section 114.0031. Directed Trusts; Advisors
Section 114.004. Actions Taken Prior to Knowledge or Notice of Facts
Section 114.005. Release of Liability by Beneficiary
Section 114.006. Liability of Cotrustees for Acts of Other Cotrustees