87R1859 MWC-D
 
  By: Lucio III H.B. No. 653
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to a trust beneficiary's approval of a trustee's
  accounting.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter E, Chapter 113, Property Code, is
  amended by adding Section 113.153 to read as follows:
         Sec. 113.153.  BENEFICIARY'S APPROVAL OF ACCOUNTING.  (a)  
  This section does not apply to a trust that is under judicial
  supervision.
         (b)  If a beneficiary does not object to a trustee's
  accounting before the 180th day after the date a copy of the
  accounting has been delivered to the last known address of the
  beneficiary:
               (1)  the beneficiary is considered to have approved the
  accounting; and
               (2)  absent fraud, intentional misrepresentation, or
  material omission, the trustee is released from liability relating
  to all matters in the accounting.
         SECTION 2.  Section 113.153, Property Code, as added by this
  Act, applies only to an accounting delivered on or after the
  effective date of this Act.
         SECTION 3.  This Act takes effect September 1, 2021.