Sec. 113.028. CERTAIN CLAIMS AND CAUSES OF ACTION PROHIBITED. (a) A trustee may not prosecute or assert a claim for damages in a cause of action against a party who is not a beneficiary of the trust if each beneficiary of the trust provides written notice to the trustee of the beneficiary's opposition to the trustee's prosecuting or asserting the claim in the cause of action.
(b) This section does not apply to a cause of action that is prosecuted by a trustee in the trustee's individual capacity.
(c) The trustee is not liable for failing to prosecute or assert a claim in a cause of action if prohibited by the beneficiaries under Subsection (a).
Added by Acts 2005, 79th Leg., Ch. 765 (H.B. 3434), Sec. 3, eff. June 17, 2005.
Section: Previous 113.0211 113.022 113.023 113.024 113.025 113.026 113.027 113.028 113.029 113.030 113.051 113.052 113.053 113.054 113.055 NextLast modified: September 28, 2016