VALIDITY OF TRUST DECLARATION

Sec. 121.053. VALIDITY OF TRUST DECLARATION. The validity of a trust agreement or declaration is not affected by: (1) the absence of a corpus other than the right of the trustee to receive a death benefit as beneficiary; (2) the employee's reservation of the right to designate another beneficiary of the death benefit; or (3) the existence of authority to amend, modify, revoke, or terminate the agreement or declaration. Acts 1983, 68th Leg., p. 3693, ch. 576, Sec. 1, eff. Jan. 1, 1984.