Texas Property Code Title 9, Chapter 117 - Uniform Prudent Investor Act

• Texas Section 117.001 - Short Title
  This chapter may be cited as the "Uniform Prudent Investor Act." Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Jan. 1, 2004.
• Texas Section 117.002 - Uniformity Of Application And Construction
  This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter...
• Texas Section 117.003 - Prudent Investor Rule
  (a) Except as otherwise provided in Subsection (b), a trustee who invests and manages trust assets owes a duty to the beneficiaries of the trust...
• Texas Section 117.004 - Standard Of Care; Portfolio Strategy; Risk And Return Objectives
  (a) A trustee shall invest and manage trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of...
• Texas Section 117.005 - Diversification
  A trustee shall diversify the investments of the trust unless the trustee reasonably determines that, because of special circumstances, the purposes of the trust are...
• Texas Section 117.006 - Duties At Inception Of Trusteeship
  Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning...
• Texas Section 117.007 - Loyalty
  A trustee shall invest and manage the trust assets solely in the interest of the beneficiaries. Added by Acts 2003, 78th Leg., ch. 1103, Sec....
• Texas Section 117.008 - Impartiality
  If a trust has two or more beneficiaries, the trustee shall act impartially in investing and managing the trust assets, taking into account any differing...
• Texas Section 117.009 - Investment Costs
  In investing and managing trust assets, a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of...
• Texas Section 117.010 - Reviewing Compliance
  Compliance with the prudent investor rule is determined in light of the facts and circumstances existing at the time of a trustee's decision or action...
• Texas Section 117.011 - Delegation Of Investment And Management Functions
  (a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall...
• Texas Section 117.012 - Language Invoking Standard Of Chapter
  The following terms or comparable language in the provisions of a trust, unless otherwise limited or modified, authorizes any investment or strategy permitted under this...

Last modified: September 28, 2016