CAPACITY OF TRUSTEE

Sec. 112.008. CAPACITY OF TRUSTEE. (a) The trustee must have the legal capacity to take, hold, and transfer the trust property. If the trustee is a corporation, it must have the power to act as a trustee in this state. (b) Except as provided by Section 112.034 , the fact that the person named as trustee is also a beneficiary does not disqualify the person from acting as trustee if he is otherwise qualified. (c) The settlor of a trust may be the trustee of the trust. Added by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.