H.B. No. 3635
AN ACT
relating to administration of a trust with cotrustees.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 113.085(c) and (d), Property Code, are
amended to read as follows:
(c) A cotrustee shall participate in the performance of a
trustee's function unless the cotrustee:
(1) is unavailable to perform the function because of
absence, illness, suspension under this code or other law,
disqualification, if any, under this code, disqualification under
other law, or other temporary incapacity; or
(2) has delegated the performance of the function to
another trustee in accordance with the terms of the trust or
applicable law, has communicated the delegation to all other
cotrustees, and has filed the delegation in the records of the
trust.
(d) If a cotrustee is unavailable to participate in the
performance of a trustee's function for a reason described by
Subsection (c)(1) and prompt action is necessary to achieve the
efficient administration or purposes of the trust or to avoid
injury to the trust property or a beneficiary, the remaining
cotrustee or a majority of the remaining cotrustees may act for the
trust.
SECTION 2. Section 113.085, Property Code, as amended by
this Act, applies only to a trust existing on or after September 1,
2009, regardless of the date the trust was created.
SECTION 3. This Act takes effect September 1, 2009.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 3635 was passed by the House on May 5,
2009, by the following vote: Yeas 144, Nays 0, 1 present, not
voting; and that the House concurred in Senate amendments to H.B.
No. 3635 on May 29, 2009, by the following vote: Yeas 141, Nays 0,
1 present, not voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 3635 was passed by the Senate, with
amendments, on May 27, 2009, by the following vote: Yeas 31, Nays
0.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor