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Texas Finance Code - FIN § 154.258. Investment and Management of Trust Assets

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The trustee of a prepaid funeral benefits trust shall invest and manage trust assets in accordance with the Uniform Prudent Investor Act (Chapter 117, Property Code), in a manner consistent with the requirements of this chapter and the purposes, terms, distribution requirements, and other circumstances of the trust.

(b) The commission may adopt reasonable rules to administer and clarify law regarding the investment and management of prepaid funeral benefits trust funds, provided that the rules are consistent with the Uniform Prudent Investor Act (Chapter 117, Property Code), the requirements of this chapter, and the purposes, terms, distribution requirements, and other circumstances of a prepaid funeral benefits trust, including rules to:

(1) define trust and investment terms;

(2) specify standards applicable to the written investment plan required by Section 154.257;  and

(3) establish guidelines, rebuttable presumptions, or safe harbor provisions with respect to suitable investments and investment strategies for a prepaid funeral benefits trust.

(c) to (e) Repealed by Acts 2007, 80th Leg., ch. 720, § 4(1).

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 154.258. Investment and Management of Trust Assets - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-154-258/

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