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Texas Statutes, Title PR

Texas/Statutes

← All Texas coverage

Title PR, Property Code

97 chapters · 1,782 sections in this title.

All chapters in Title PR1,782 Ch 92, Chapter 92118 Ch 5, Chapter 588 Ch 53, Chapter 5380 Ch 82, Chapter 8266 Ch 221, Chapter 22162 Ch 94, Chapter 9458 Ch 112, Chapter 11256 Ch 74, Chapter 7454 Ch 301, Chapter 30154 Ch 113, Chapter 11349 Ch 21, Chapter 2145 Ch 209, Chapter 20942 Ch 70, Chapter 7041 Ch 62, Chapter 6234

12 sections·Filtered byTitle PR✕Ch 117✕

Tex. Property Code § 117.001 Short Title
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Sec. 117.001. SHORT TITLE. This chapter may be cited as the "Uniform Prudent Investor Act." Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Jan. 1, 2004.
Tex. Property Code § 117.002 Uniformity of Application and Construction
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Sec. 117.002. UNIFORMITY OF APPLICATION AND CONSTRUCTION. This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among the states enacting it. Added by Acts 2003, 78th Leg., ch. 1103, Sec. …
Tex. Property Code § 117.003 Prudent Investor Rule
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Sec. 117.003. PRUDENT INVESTOR RULE. (a) Except as otherwise provided in Subsection (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust to comply with the prudent investor rule set forth in this chapter. (b) The prudent investor rule,…
Tex. Property Code § 117.004 Standard of Care; Portfolio Strategy; Risk and Return Objectives
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Sec. 117.004. STANDARD OF CARE; PORTFOLIO STRATEGY; RISK AND RETURN OBJECTIVES. (a) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this …

Tex. Property Code § 117.005 Diversification

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Sec. 117.005. DIVERSIFICATION. A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are better served without diversifying. Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1…

Tex. Property Code § 117.006 Duties At Inception of Trusteeship

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Sec. 117.006. DUTIES AT INCEPTION OF TRUSTEESHIP. 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 t…

Tex. Property Code § 117.007 Loyalty

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Sec. 117.007. LOYALTY. A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries. Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Jan. 1, 2004.

Tex. Property Code § 117.008 Impartiality

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Sec. 117.008. IMPARTIALITY. If a trust has two or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing interests of the beneficiaries. Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Jan. 1, 2004…

Tex. Property Code § 117.009 Investment Costs

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Sec. 117.009. INVESTMENT COSTS. In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee. Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Ja…

Tex. Property Code § 117.010 Reviewing Compliance

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Sec. 117.010. REVIEWING COMPLIANCE. Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee's decision or action and not by hindsight. Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Jan. 1, 2004.

Tex. Property Code § 117.011 Delegation of Investment and Management Functions

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Sec. 117.011. DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS. (a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caut…

Tex. Property Code § 117.012 Language Invoking Standard of Chapter

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Sec. 117.012. LANGUAGE INVOKING STANDARD OF CHAPTER. The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this chapter: "investments permissible by law for investment o…