Relating to amending the Texas Trust Act by providing that, when by the terms of an instrument containing a trust, a single trustee or a co-trustee is excluded from exercising its judgment in the making or retention of trust investments or in the doing of any other act in the management and administration of the trust, with the power to direct such investments or other acts being reserved by the trustor or vested in some person or persons other than the excluded trustee or co-trustee, the excluded trustee or co-trustee shall not be liable in making or retaining investments or in doing some other act pursuant to the authorized directions.
Author: Charles Herring
Session Law Chapter: Acts 1965, 59th R.S.,ch. 280, General and Special Laws of Texas
The Legislative Archive System is a work in progress. Complete information is not available for all bills and all sessions. Visit the Legislative Archive System status page for details. Please contact the Legislative Reference Library at 512-463-1252 if you have any questions.
Information on this website is provided as a public service by the Legislative Reference Library. The Legislative Reference Library makes no representation as to its completeness or accuracy and makes no warranty in regard to its use. Users assume all risk of reliance on the information included on this site.