Tex. Property Code § 117.003
This is the official text of Tex. Property Code § 117.003, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 117.003. PRUDENT INVESTOR RULE.
Official statutory text
(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 to comply with the prudent investor rule set forth in this chapter.
(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
(b) The prudent investor rule, a default rule, may be expanded, restricted, eliminated, or otherwise altered by the provisions of a trust. A trustee is not liable to a beneficiary to the extent that the trustee acted in reasonable reliance on the provisions of the trust.
Status: in_force · Read it on the official government site
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