Tex. Prop. Code § 116.171 · Part 3. RECEIPTS NORMALLY APPORTIONED
INSUBSTANTIAL ALLOCATIONS NOT REQUIRED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If a trustee determines that an allocation between principal and income required by Section 116.172, 116.173, 116.174, 116.175, or 116.178 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in Section 116.005(c) applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in Section 116.005(d) and may be released for the reasons and in the manner described in Section 116.005(e).
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.116.htm
- Text hash
- sha256 eb8938e445bd3a913871fe58ea1cfb6e814b03a2383f0ebae80a67128e562807
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Property Code
- Tex. Prop. Code § 116.005TRUSTEE'S POWER TO ADJUST.Printed as Section 116.005(c) | Section 116.005(d) | Section 116.005(e)
- Tex. Prop. Code § 116.172DEFERRED COMPENSATION, ANNUITIES, AND SIMILAR PAYMENTS.Printed as Section 116.172, 116.173, 116.174, 116.175, or 116.178
- Tex. Prop. Code § 116.173LIQUIDATING ASSET.Printed as Section 116.172, 116.173, 116.174, 116.175, or 116.178
- Tex. Prop. Code § 116.174MINERALS, WATER, AND OTHER NATURAL RESOURCES.Printed as Section 116.172, 116.173, 116.174, 116.175, or 116.178
- Tex. Prop. Code § 116.175TIMBER.Printed as Section 116.172, 116.173, 116.174, 116.175, or 116.178
- Tex. Prop. Code § 116.178ASSET-BACKED SECURITIES.Printed as Section 116.172, 116.173, 116.174, 116.175, or 116.178
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.