Texas § PR.123.001 - DEFINITIONS

§ PR.123.001. DEFINITIONS

DEFINITIONS. In this chapter: (1) "Charitable entity" means a corporation, trust, community chest, fund, foundation, or other entity organized for scientific, educational, philanthropic, or environmental purposes, social welfare, the arts and humanities, or another civic or public purpose described by Section 501(c)(3) of the Internal Revenue Code of 1986 (26 U.S.C. 501(c)(3)). (2) "Charitable trust" means a charitable entity, a trust the stated purpose of which is to benefit a charitable entity, or an inter vivos or testamentary gift to a charitable entity. (3) "Proceeding involving a charitable trust" means a suit or other judicial proceeding the object of which is to: (A) terminate a charitable trust or distribute its assets to other than charitable donees; (B) depart from the objects of the charitable trust stated in the instrument creating the trust, including a proceeding in which the doctrine of cy-pres is invoked; (C) construe, nullify, or impair the provisions of a testamentary or other instrument creating or affecting a charitable trust; (D) contest or set aside the probate of an alleged will under which money, property, or another thing of value is given for charitable purposes; (E) allow a charitable trust to contest or set aside the probate of an alleged will; (F) determine matters relating to the probate and administration of an estate involving a charitable trust; or (G) obtain a declaratory judgment involving a charitable trust. (4) "Fiduciary or managerial agent" means an individual, corporation, or other entity acting either as a trustee, a member of the board of directors, an officer, an executor, or an administrator for a charitable trust. Added by Acts 1987, 70th Leg., ch. 147, Sec. 4, eff. Sept. 1, 1987. Amended by Acts 1995, 74th Leg., ch. 172, Sec. 2, eff. Sept. 1, 1995.