{"data":{"id":"us-tx/tex.-finance-code-154.256","jurisdiction":"us-tx","citation":"Tex. Finance Code § 154.256","heading":"STANDARD OF DUTY OF TRUSTEE.","body":"A trustee described by Section 154.253(a)(2) shall be held to the standard of duty of a trustee under the Texas Trust Code (Subtitle B, Title 9, Property Code), provided that the provisions of the Texas Trust Code may not be expanded, restricted, eliminated, or otherwise altered by the provisions of the trust instrument in a manner that is inconsistent with the purposes, terms, distribution requirements, and other circumstances of a trust established under this chapter. In administering assets held in a prepaid funeral benefits trust, a trustee shall consider the trust beneficiaries to include the following two classes of persons to the extent of any beneficial interest:\n(1) funeral providers or other persons entitled to payment after delivering a contracted funeral for which funds have been deposited in trust; and\n(2) purchasers of or beneficiaries designated in prepaid funeral benefits contracts for which funds have been deposited in trust who:\n(A) are entitled to receive a contracted funeral; or\n(B) have the right to cancel a contract under Section 154.155 if not waived under Section 154.156.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 720 (H.B. 2393), Sec. 1, eff. September 1, 2007.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE E. OTHER FINANCIAL BUSINESSES","CHAPTER 154. PREPAID FUNERAL SERVICES","SUBCHAPTER F. TRUST-FUNDED PREPAID FUNERAL BENEFITS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.154.htm#154.256","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"118d40aace10c8da19ead67fd580746b31d40f108b0633878398a4a03db9f411","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-154.255","next":"us-tx/tex.-finance-code-154.257"},"notice":"GroundRules: Original legal text. Not legal advice."}