Sec. 117.012. LANGUAGE INVOKING STANDARD OF CHAPTER. The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this chapter: "investments permissible by law for investment of trust funds," "legal investments," "authorized investments," "using the judgment and care under the circumstances then prevailing that persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital," "prudent man rule," "prudent trustee rule," "prudent person rule," and "prudent investor rule."
Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Jan. 1, 2004.
Structure Texas Statutes
Subtitle B - Texas Trust Code: Creation, Operation, and Termination of Trusts
Chapter 117 - Uniform Prudent Investor Act
Section 117.002. Uniformity of Application and Construction
Section 117.003. Prudent Investor Rule
Section 117.004. Standard of Care; Portfolio Strategy; Risk and Return Objectives
Section 117.005. Diversification
Section 117.006. Duties at Inception of Trusteeship
Section 117.009. Investment Costs
Section 117.010. Reviewing Compliance
Section 117.011. Delegation of Investment and Management Functions