Section 114.003 - Powers to Direct: Charitable Trusts(a) In this section, "charitable trust" has the meaning assigned by Section 123.001.(a-1) The terms of a charitable trust may give a trustee or other person a power to direct the modification or termination of the trust.(b) If the terms of a charitable trust give a person the power to direct certain actions of the trustee, the trustee shall act in accordance with the person's direction unless: (1) the direction is manifestly contrary to the terms of the trust; or(2) the trustee knows the direction would constitute a serious breach of a fiduciary duty that the person holding the power to direct owes to the beneficiaries of the trust.(c) A person, other than a beneficiary, who holds a power to direct with respect to a charitable trust is presumptively a fiduciary required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct with respect to a charitable trust is liable for any loss that results from a breach of the person's fiduciary duty.Tex. Prop. Code § 114.003
Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 1108,Sec. 1, eff. 6/19/2015.Amended By Acts 2005, 79th Leg., Ch. 148, Sec. 19, eff. 1/1/2006.Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. 1/1/1984.