Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Property Code § 116.171: INSUBSTANTIAL ALLOCATIONS NOT REQUIRED.

Where this section sits in the code

PROPERTY CODE
TITLE 9. TRUSTS
SUBTITLE B. TEXAS TRUST CODE: CREATION, OPERATION, AND TERMINATION OF TRUSTS
CHAPTER 116. UNIFORM PRINCIPAL AND INCOME ACT
SUBCHAPTER D. ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST

If a trustee determines that an allocation between principal and income required by Section 116.172, 116.173, 116.174, 116.175, or 116.178 is insubstantial, the trustee may allocate the entire amount to principal unless one of the circumstances described in Section 116.005(c) applies to the allocation. This power may be exercised by a cotrustee in the circumstances described in Section 116.005(d) and may be released for the reasons and in the manner described in Section 116.005(e).

Added by Acts 2003, 78th Leg., ch. 659, Sec. 1, eff. Jan. 1, 2004.

Collected 2026-08-27T01:47:37Z. Source file · JSON

Browse this collection