Texas Property Code

§ 112.085 — EXCEPTIONS TO POWER OF DISTRIBUTION

PR § 112.085Title 9. TRUSTS · Part B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS · Ch. 112. CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUSTS · Art. D. DISTRIBUTION OF TRUST PRINCIPAL IN FURTHER TRUST

Statute text

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An authorized trustee may not exercise a power to distribute principal of a trust under Section 112.072 or 112.073 to:

(1)reduce, limit, or modify a beneficiary's current, vested right to:

(A)receive a mandatory distribution of income or principal;

(B)receive a mandatory annuity or unitrust interest;

(C)withdraw a percentage of the value of the trust; or

(D)withdraw a specified dollar amount from the trust;

…

Legislative history

Acts 2017, 85th Leg., R.S., Ch. 62 (S.B. 617), Sec. 11, eff. September 1, 2017.