Tex. Prop. Code Section 113.056
Authorization to Make Certain Investments

(a)

Unless the terms of the trust instrument provide otherwise, and subject to the investment standards provided by this subtitle and any investment standards provided by the trust instrument, the trustee may invest all or part of the trust assets in an investment vehicle authorized for the collective investment of trust funds pursuant to Part 9, Title 12, of the Code of Federal Regulations.

(d)

Subject to any investment standards provided by this chapter, Chapter 117 (Uniform Prudent Investor Act), or the trust instrument, whenever the instrument directs, requires, authorizes, or permits investment in obligations of the United States government, the trustee may invest in and hold such obligations either directly or in the form of interests in an open-end management type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. 80a-1 et seq., or in an investment vehicle authorized for the collective investment of trust funds pursuant to Part 9, Title 12 of the Code of Federal Regulations, so long as the portfolio of such investment company, investment trust, or collective investment vehicle is limited to such obligations and to repurchase agreements fully collateralized by such obligations.
Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984. Amended by Acts 1985, 69th Leg., ch. 341, Sec. 1, eff. June 10, 1985; Acts 1991, 72nd Leg., ch. 876, Sec. 1, eff. June 16, 1991; Acts 2003, 78th Leg., ch. 1103, Sec. 6, 7, eff. Jan. 1, 2004.

Source: Section 113.056 — Authorization to Make Certain Investments, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­113.­htm#113.­056 (accessed Apr. 20, 2024).

113.001
Limitation of Powers 113.002
General Powers 113.003
Options 113.004
Additions to Trust Assets 113.005
Acquisition of Undivided Interests 113.006
General Authority to Manage and Invest Trust Property 113.007
Temporary Deposits of Funds 113.008
Business Entities 113.009
Real Property Management 113.010
Sale of Property 113.011
Leases 113.012
Minerals 113.013
Insurance 113.014
Payment of Taxes 113.015
Authority to Borrow 113.016
Management of Securities 113.017
Corporate Stock or Other Securities Held in Name of Nominee 113.018
Employment and Appointment of Agents 113.019
Claims 113.020
Burdensome or Worthless Property 113.021
Distribution to Minor or Incapacitated Beneficiary 113.022
Power to Provide Residence and Pay Funeral Expenses 113.023
Ancillary Trustee 113.024
Implied Powers 113.025
Powers of Trustee Regarding Environmental Laws 113.026
Authority to Designate New Charitable Beneficiary 113.027
Distributions Generally 113.028
Certain Claims and Causes of Action Prohibited 113.029
Discretionary Powers 113.030
Relocation of Administration of Charitable Trust 113.031
Digital Assets 113.051
General Duty 113.052
Loan of Trust Funds to Trustee 113.053
Purchase or Sale of Trust Property by Trustee 113.054
Sales from One Trust to Another 113.055
Purchase of Trustee’s Securities 113.056
Authorization to Make Certain Investments 113.057
Deposits by Corporate Trustee with Itself 113.058
Bond 113.081
Resignation of Trustee 113.082
Removal of Trustee 113.083
Appointment of Successor Trustee 113.084
Powers of Successor Trustee 113.085
Exercise of Powers by Multiple Trustees 113.151
Demand for Accounting 113.152
Contents of Accounting 113.171
Common Trust Funds 113.172
Affiliated Institutions 113.0211
Adjustment of Charitable Trust
Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

§ 113.056’s source at texas​.gov