Sec. 1301.203. TERMINATION OF TRUST. (a) If the person for whom a management trust is created is a minor, the trust terminates on:
(1) the earlier of:
(A) the person's death; or
(B) the person's 18th birthday; or
(2) the date provided by court order, which may not be later than the person's 25th birthday.
(b) If the person for whom a management trust is created is not a minor, the trust terminates:
(1) according to the terms of the trust;
(2) on the date the court determines that continuing the trust is no longer in the person's best interests, subject to Section 1301.202(c); or
(3) on the person's death.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 161 (S.B. 1093), Sec. 6.072, eff. January 1, 2014.
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