SALES FROM ONE TRUST TO ANOTHER

Sec. 113.054. SALES FROM ONE TRUST TO ANOTHER. A trustee of one trust may not sell property to another trust of which it is also trustee unless the property is: (1) a bond, note, bill, or other obligation issued or fully guaranteed as to principal and interest by the United States; and (2) sold for its current market price. Amended by Acts 1983, 68th Leg., p. 3332, ch. 567, art. 2, Sec. 2, eff. Jan. 1, 1984.