Texas Statutes
Subchapter I. -1. Unit Accounting
Section 2001.439. Trust Agreement

Sec. 2001.439. TRUST AGREEMENT. (a) Notwithstanding any other provision of this subchapter, a unit may be formed pursuant to a trust agreement between two or more licensed authorized organizations that conduct bingo at the same location. The agreement must:
(1) designate one of the organizations as the trustee;
(2) designate a person who will carry out the duties described by Section 2001.438(b);
(3) specify the method by which the unit will comply with the requirements of Section 2001.436(a); and
(4) state that the trustee is responsible for compliance with the rules of the commission and this chapter.
(b) The commission by rule may prohibit a person from serving as a unit manager or as a designated agent for a unit that does not use a unit manager if the person has failed to comply with the duties required of the person as a unit manager or designated agent.
(c) The commission may prohibit a person who serves as a designated agent that is listed on a license under this chapter, including having been approved by the commission to work in the bingo operations of a licensed authorized organization or as an operator, from holding or being listed on any license or from being approved to work in the bingo operations of any licensed authorized organization or to serve as an operator if the person has failed to comply with the duties required of the person as a unit manager or designated agent.
Added by Acts 2003, 78th Leg., ch. 1114, Sec. 19, eff. Sept. 1, 2003.

Structure Texas Statutes