SALES FROM ONE TRUST TO ANOTHER
Known as the Texas Trust Code
The act spans §§ 111–116 (165 sections).
Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff
A trustee of one trust may not sell property to another trust of which it is also trustee unless the property is:
(1) a bond, note, bill, or other obligation issued or fully guaranteed as to principal and interest by the United States; and
(2) sold for its current market price.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.