Texas Property Code

§ 113.026 — AUTHORITY TO DESIGNATE NEW CHARITABLE BENEFICIARY

PR § 113.026Title 9. TRUSTS · Part B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS · Ch. 113. ADMINISTRATION · Art. A. POWERS OF TRUSTEE

Statute text

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(a)In this section:

(1)"Charitable entity" has the meaning assigned by Section 123.001.

(2)"Failed charitable beneficiary" means a charitable entity that is named as a beneficiary of a trust and that:

(A)does not exist at the time the charitable entity's interest in the trust becomes vested;

(B)ceases to exist during the term of the trust; or

(C)ceases to be a charitable entity during the term of the trust.

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Legislative history

Added by Acts 1999, 76th Leg., ch. 63, Sec. 1, eff. Aug. 30, 1999.