Texas Property Code Title 10, Chapter 163 - Management, Investment, And Expenditure Of Institutional Funds

• Texas Section 163.001 - Short Title
  This chapter may be cited as the Uniform Prudent Management of Institutional Funds Act. Added by Acts 1989, 71st Leg., ch. 213, Sec. 1, eff....
• Texas Section 163.002 - Legislative Findings And Purpose
  (a) The legislature finds that: (1) institutions organized and operated exclusively for a charitable purpose perform essential and needed services in the state; (2) uncertainty...
• Texas Section 163.003 - Definitions
  In this chapter: (1) "Charitable purpose" means the promotion of a scientific, educational, philanthropic, or environmental purpose, social welfare, the arts and humanities, or another...
• Texas Section 163.004 - Standard Of Conduct In Managing And Investing Institutional Fund
  (a) Subject to the intent of a donor expressed in a gift instrument, an institution, in managing and investing an institutional fund, shall consider the...
• Texas Section 163.005 - Appropriation For Expenditure Or Accumulation Of Endowment Fund; Rules Of Construction
  (a) Subject to the intent of a donor expressed in the gift instrument and to Subsections (d) and (e), an institution may appropriate for expenditure...
• Texas Section 163.006 - Delegation Of Management And Investment Functions
  (a) Subject to any specific limitation set forth in a gift instrument or in law other than this chapter, an institution may delegate to an...
• Texas Section 163.007 - Release Or Modification Of Restrictions On Management, Investment, Or Purpose
  (a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift...
• Texas Section 163.008 - Reviewing Compliance
  Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or action is taken,...
• Texas Section 163.009 - Relation To Electronic Signatures In Global And National Commerce Act
  This chapter modifies, limits, and supersedes the provisions of the Electronic Signatures in Global and National Commerce Act (15 U.S.C. Section 7001 et seq.) but...
• Texas Section 163.010 - Uniformity Of Application And Construction
  In applying and construing this chapter, consideration must be given to the need to promote uniformity of the law with respect to the subject matter...
• Texas Section 163.011 - Applicability Of Other Parts Of Code
  Subtitle B, Title 9 (the Texas Trust Code), does not apply to any institutional fund subject to this chapter. Amended by: Acts 2007, 80th Leg.,...

Last modified: September 28, 2016