Tex. Prop. Code § 116.201 · Subchapter E. ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST
DISBURSEMENTS FROM INCOME.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A trustee shall make the following disbursements from income to the extent that they are not disbursements to which Section 116.051(2)(B) or (C) applies:
(1) one-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee unless, consistent with the trustee's fiduciary duties, the trustee determines that a different portion, none, or all of the compensation should be allocated to income;
(2) one-half of all expenses for accountings, judicial proceedings, or other matters that involve both the income and remainder interests;
(3) all of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income interest; and
(4) recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1337 (S.B. 778), Sec. 2, eff. September 1, 2013.
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 47c0cc274c8530f8648c78e99fffdc4e685e5e878bc99cc9139bfe55a19a0c05
- 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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