By Smith H.B. No. 2039 75R4951 CAS-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to certain rights of a settlor concerning a charitable 1-3 trust. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Chapter 123, Property Code, is amended by adding 1-6 Section 123.0011 to read as follows: 1-7 Sec. 123.0011. SETTLOR'S CONTINUING PARTICIPATION. (a) 1-8 Notwithstanding any other provision of this chapter or of other 1-9 law, if a charitable entity that is the beneficiary of a charitable 1-10 trust ceases to exist during the life of the settlor, the settlor 1-11 is entitled to replace that charitable entity with a different 1-12 charitable entity as the beneficiary. 1-13 (b) The charitable entity selected as the replacement 1-14 beneficiary of the charitable trust may have a civic or public 1-15 purpose different from that of the charitable entity that was 1-16 originally the beneficiary of the charitable trust. 1-17 SECTION 2. The importance of this legislation and the 1-18 crowded condition of the calendars in both houses create an 1-19 emergency and an imperative public necessity that the 1-20 constitutional rule requiring bills to be read on three several 1-21 days in each house be suspended, and this rule is hereby suspended, 1-22 and that this Act take effect and be in force from and after its 1-23 passage, and it is so enacted.