Texas § HS.712.0354 - DETERMINATION OF TOTAL RETURN PERCENTAGE
Full text of Texas The Texas Constitution § HS.712.0354 — DETERMINATION OF TOTAL RETURN PERCENTAGE, with citation guidance and answers to common questions.
§ HS.712.0354. DETERMINATION OF TOTAL RETURN PERCENTAGE
DETERMINATION OF TOTAL RETURN PERCENTAGE. (a) Consistent with the prudent investor rule, the trustee in the exercise of the trustee's sole discretion shall select the total return percentage to be used in determining permissible distributions from a total return trust at least annually, in an amount that represents a reasonable current return from the fund in light of the investment policy currently applicable to the fund, provided that the total return percentage does not exceed five percent. (b) Before the 31st day after the beginning of each fiscal year, the trustee of a total return fund shall send written notice to the commissioner and to the corporation of the trustee's determination of the total return percentage to be applied in the fiscal year. If the trustee alters the total return percentage during a fiscal year, the trustee shall send written notice to the commissioner and to the corporation of the revised total return percentage and the reason for the revision before the first distribution is made based on the new total return percentage. Added by Acts 2017, 85th Leg., R.S., Ch. 1051 (H.B. 1948 ), Sec. 1, eff. September 1, 2017.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § HS.712.0354
What does The Texas Constitution § HS.712.0354 cover?
Section HS.712.0354 ("DETERMINATION OF TOTAL RETURN PERCENTAGE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § HS.712.0354?
A common citation format is "The Texas Constitution § HS.712.0354" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § HS.712.0354 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.