Sec. 200.351. INVESTMENTS. A trust manager or officer of a real estate investment trust has complete discretion with respect to the investment of the trust estate unless the investment is contrary to or inconsistent with:
(1) this chapter;
(2) a provision of the Internal Revenue Code relating to or governing real estate investment trusts; or
(3) regulations adopted under a provision of the Internal Revenue Code relating to or governing real estate investment trusts.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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