Tex. Est. Code § 351.204 · Subchapter E. OPERATION OF BUSINESS
FIDUCIARY DUTIES OF PERSONAL REPRESENTATIVE REGARDING BUSINESS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A personal representative who operates a business under an order entered under Section 351.202(a) has the same fiduciary duties as a representative who does not operate a business that is part of an estate.
(b) In operating a business under an order entered under Section 351.202(a), a personal representative shall consider:
(1) the condition of the estate and the business;
(2) the necessity that may exist for the future sale of the business or of business property to provide for payment of debts or claims against the estate or other lawful expenditures with respect to the estate;
(3) the effect of the order on the speedy settlement of the estate; and
(4) the best interests of the estate.
(c) A personal representative who operates a business under an order entered under Section 351.202(a) shall report to the court with respect to the operation and condition of the business as part of the accounts required by Chapters 359 and 362, unless the court orders the reports regarding the business to be made more frequently or in a different manner or form.
Notes and commentary — not statutory text
History
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/ES/htm/ES.351.htm
- Text hash
- sha256 af47e99337b97dcb3d7206dec6da56f7e903aca101e2b5cf35e7e04d627feafa
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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