Texas Property Code - Section 113.151. Demand For Accounting
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Texas Laws > Property Code > Texas Property Code - Section 113.151. Demand For Accounting
§ 113.151. DEMAND FOR ACCOUNTING. (a) A beneficiary by
written demand may request the trustee to deliver to each
beneficiary of the trust a written statement of accounts covering
all transactions since the last accounting or since the creation of
the trust, whichever is later. If the trustee fails or refuses to
deliver the statement on or before the 90th day after the date the
trustee receives the demand or after a longer period ordered by a
court, any beneficiary of the trust may file suit to compel the
trustee to deliver the statement to all beneficiaries of the trust.
The court may require the trustee to deliver a written statement of
account to all beneficiaries on finding that the nature of the
beneficiary's interest in the trust or the effect of the
administration of the trust on the beneficiary's interest is
sufficient to require an accounting by the trustee. However, the
trustee is not obligated or required to account to the
beneficiaries of a trust more frequently than once every 12 months
unless a more frequent accounting is required by the court. If a
beneficiary is successful in the suit to compel a statement under
this section, the court may, in its discretion, award all or part of
the costs of court and all of the suing beneficiary's reasonable and
necessary attorney's fees and costs against the trustee in the
trustee's individual capacity or in the trustee's capacity as
trustee.
(b) An interested person may file suit to compel the trustee
to account to the interested person. The court may require the
trustee to deliver a written statement of account to the interested
person on finding that the nature of the interest in the trust of,
the claim against the trust by, or the effect of the administration
of the trust on the interested person is sufficient to require an
accounting by the trustee.
Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, § 2, eff.
Jan. 1, 1984. Amended by Acts 2003, 78th Leg., ch. 550, § 3, eff.
Sept. 1, 2003.
Section: 113.059 113.060 113.081 113.082 113.083 113.084 113.085 113.151 113.152 113.171 113.172 114.001 114.002 114.003 114.004
Last modified: August 11, 2007
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