Texas Finance Code - Section 154.256. Standard Of Care Of Trustee
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Texas Lawyer > Finance Code > Texas Finance Code - Section 154.256. Standard Of Care Of Trustee
§ 154.256. STANDARD OF CARE OF TRUSTEE. A trustee, in
administering assets held in a prepaid funeral benefits trust,
shall exercise the judgment and care under the circumstances that a
person of ordinary prudence, discretion, and intelligence
exercises in the management of the person's own affairs, not in
regard to speculation but in regard to the permanent disposition of
the person's money, considering:
(1) the probable income from and probable increase in
value of the person's capital;
(2) the safety of the person's capital; and
(3) the investment of all the assets of the trust the
trustee has the power to administer rather than the prudence of a
single investment of the trust.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 154.206 154.207 154.251 154.252 154.253 154.254 154.255 154.256 154.257 154.258 154.259 154.260 154.261 154.262 154.263
Last modified: August 10, 2007
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