82R7089 AJA-D
By: Phillips H.B. No. 1813
A BILL TO BE ENTITLED
AN ACT
relating to a beneficiary or interested person for the purposes of
the Texas Trust Code.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 111.004(2) and (7), Property Code, are
amended to read as follows:
(2) "Beneficiary" means a person for whose benefit
property is held in trust, regardless of the nature of the interest.
The term includes a person whose right to benefit from the trust is
contingent, regardless of whether the right to benefit from the
trust is presently vested.
(7) "Interested person" means a trustee, a
beneficiary, including a beneficiary whose right to benefit from
the trust is contingent, regardless of whether the right to benefit
from the trust is presently vested, or any other person having an
interest in or a claim against the trust or any person who is
affected by the administration of the trust. Whether a person,
excluding a trustee or named beneficiary, is an interested person
may vary from time to time and must be determined according to the
particular purposes of and matter involved in any proceeding.
SECTION 2. This Act takes effect September 1, 2011.