1999
Legislation:
Commentary
on HB 115 -- Allowing Trustees to
Name New Charitable Beneficiaries
HB 115 (by Rep. Todd Smith) is Rep. Smith's second effort to make
it possible for trustees of charitable trusts whose charitable beneficiaries go out of
existence or lose their charitable status to pick a new charitable beneficiary without the
need for a judicial proceeding. In 1997, HB 2039 (see http://www.texasprobate.net/97leg/
for more information) was okayed by the attorney general's office and approved by the
House Business and Industry Committee but died in the Calendars Committee.
[01/08/99]
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Copyright 1999 by Glenn M.
Karisch Last Revised January 8, 1999