Sec. 114.003.  POWERS TO DIRECT: CHARITABLE TRUSTS.  (a) In this section, "charitable trust" has the meaning assigned by Section 123.001.
(a-1)  The terms of a charitable trust may give a trustee or other person a power to direct the modification or termination of the trust.
(b)  If the terms of a charitable trust give a person the power to direct certain actions of the trustee, the trustee shall act in accordance with the person's direction unless:
(1)  the direction is manifestly contrary to the terms of the trust; or
(2)  the trustee knows the direction would constitute a serious breach of a fiduciary duty that the person holding the power to direct owes to the beneficiaries of the trust.
(c)  A person, other than a beneficiary, who holds a power to direct with respect to a charitable trust is presumptively a fiduciary required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries.  The holder of a power to direct with respect to a charitable trust is liable for any loss that results from a breach of the person's fiduciary duty.
Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.
Amended by: 
Acts 2005, 79th Leg., Ch. 148 (H.B. 1190), Sec. 19, eff. January 1, 2006.
Acts 2015, 84th Leg., R.S., Ch. 1108 (H.B. 3190), Sec. 1, eff. June 19, 2015.