Texas Property Code
§ 114.0031 — DIRECTED TRUSTS; ADVISORS
PR § 114.0031Title 9. TRUSTS · Part B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS · Ch. 114. LIABILITIES, RIGHTS, AND REMEDIES OF TRUSTEES, BENEFICIARIES, AND THIRD PERSONS · Art. A. LIABILITY OF TRUSTEE
Statute text
View on source(a)In this section:
(1)"Advisor" includes protector.
(2)"Investment decision" means, with respect to any investment, the retention, purchase, sale, exchange, tender, or other transaction affecting the ownership of the investment or rights in the investment and, with respect to a nonpublicly traded investment, the valuation of the investment.
(b)This section does not apply to a charitable trust as defined by Section 123.001.
(c)For purposes of this section, an advisor with authority with respect to investment decisions is an investment advisor.
(d)A protector has all the power and authority granted to the protector by the trust terms, which may include:
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Legislative history
Acts 2019, 86th Leg., R.S., Ch. 312 (H.B. 2246), Sec. 1, eff. September 1, 2019.