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.
Tex. Prop. Code § 117.006
DUTIES AT INCEPTION OF TRUSTEESHIP
Known as the Uniform Prudent Investor Act
The act spans §§ 117–117 (12 sections).
Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.