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Enrolled Bill Summary

Enrolled Bill Summary

Legislative Session: 80(R)

House Bill 860

House Author:  Paxton et al.

Effective:  9-1-07

Senate Sponsor:  Williams

            House Bill 860 modernizes and revises the uniform law contained in the Property Code concerning the management and investment of funds held by charitable organizations.  The bill provides guidance and authority to charitable organizations and provides for additional duties for individuals who manage and invest such funds.