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A BILL TO BE ENTITLED
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AN ACT
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relating to administration of a trust with cotrustees. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 113.085, Property Code, is amended by |
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amending Subsections (c) and (d) and adding Subsection (d-1) to |
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read as follows: |
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(c) A cotrustee shall participate in the performance of a |
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trustee's function unless the cotrustee: |
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(1) is unavailable to perform the function because of |
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absence, illness, suspension under this code, disqualification |
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under other law, or other temporary incapacity; or |
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(2) has delegated the performance of the function to |
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another trustee in accordance with the terms of the trust or |
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applicable law, has communicated the delegation to all other |
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cotrustees, and has filed the delegation in the records of the |
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trust. |
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(d) If a cotrustee is unavailable to participate in the |
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performance of a trustee's function for a reason described by |
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Subsection (c)(1) and prompt action is necessary to achieve the |
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efficient administration or purposes of the trust or to avoid |
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injury to the trust property or a beneficiary, the remaining |
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cotrustee or a majority of the remaining cotrustees may act for the |
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trust. |
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(d-1) If a cotrustee is unavailable to participate in the |
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performance of the cotrustee's function because the cotrustee has |
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been suspended under this code, the remaining cotrustee or |
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cotrustees may act for the trust as provided by the order of the |
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court that suspended the cotrustee or another order of that court. |
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SECTION 2. Section 113.085, Property Code, as amended by |
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this Act, applies only to a trust existing on or after September 1, |
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2009, regardless of the date the trust was created. |
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SECTION 3. This Act takes effect September 1, 2009. |