Texas Property Code

§ 112.121 — VALIDITY OF TRUST; APPLICABILITY

PR § 112.121Title 9. TRUSTS · Part B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS · Ch. 112. CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUSTS · Art. F. NONCHARITABLE TRUST WITHOUT ASCERTAINABLE BENEFICIARY

Statute text

View on source

(a)A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary. A noncharitable purpose may include seeking economic or noneconomic benefits.

(b)This subchapter does not apply to a trust created under Section 112.037.

Legislative history

Added by Acts 2023, 88th Leg., R.S., Ch. 1121 (H.B. 2333), Sec. 2, eff. June 18, 2023.