Texas § PR.117.011 - DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS
Full text of Texas The Texas Constitution § PR.117.011 — DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS, with citation guidance and answers to common questions.
§ PR.117.011. DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS
DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS. (a) A trustee may delegate investment and management functions that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: (1) selecting an agent; (2) establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and (3) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation. (b) In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation. (c) A trustee who complies with the requirements of Subsection (a) is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated, unless: (1) the agent is an affiliate of the trustee; or (2) under the terms of the delegation: (A) the trustee or a beneficiary of the trust is required to arbitrate disputes with the agent; or (B) the period for bringing an action by the trustee or a beneficiary of the trust with respect to an agent's actions is shortened from that which is applicable to trustees under the law of this state. (d) By accepting the delegation of a trust function from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state. Added by Acts 2003, 78th Leg., ch. 1103, Sec. 1, eff. Jan. 1, 2004.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § PR.117.011
What does The Texas Constitution § PR.117.011 cover?
Section PR.117.011 ("DELEGATION OF INVESTMENT AND MANAGEMENT FUNCTIONS") 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 § PR.117.011?
A common citation format is "The Texas Constitution § PR.117.011" (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 § PR.117.011 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.