Bill > SB843

This bill amends the Texas Property Code to add a new section, Section 113.153, which addresses a trust beneficiary's approval of a trustee's accounting. The key provisions are: (1) the new section does not apply to trustees required to file regular court accountings; (2) if a beneficiary does not object in writing to the trustee's accounting within 180 days of receiving it, the beneficiary is considered to have approved the accounting, and the trustee is released from liability for matters in the accounting, except for fraud, intentional misrepresentation, or material omission; and (3) the new section does not require trustees to deliver an accounting to beneficiaries. The bill applies only to accountings delivered on or after the effective date of September 1, 2023.

Government Affairs

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88R&Bill=SB843