Tex. Prop. Code § 117.006 · Chapter 117. UNIFORM PRUDENT INVESTOR ACT
DUTIES AT INCEPTION OF TRUSTEESHIP.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets, in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust, and with the requirements of this chapter.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1103, 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.117.htm
- Text hash
- sha256 b335e86ea882b79dbfc1f895899319bdd6c7ca59a1e532e6ef326b36d2ae73fa
- 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
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.