Sec. 712.0351. DEFINITIONS. In this subchapter:
(1) "Net income fund" means a fund from which permissible distributions are calculated based on the net income method.
(2) "Net income method" means calculation of permissible annual distributions by the trustee as equal to the annual net income of the fund.
(3) "Total return fund" means a fund from which permissible distributions are calculated based on the total return method.
(4) "Total return method" means the calculation of permissible annual distributions by the trustee as equal to the average fair market value of the assets in the fund, determined under Section 712.0353, multiplied by the total return percentage.
(5) "Total return percentage" means the annual percentage selected by the trustee in accordance with Section 712.0354.
Added by Acts 2017, 85th Leg., R.S., Ch. 1051 (H.B. 1948), Sec. 1, eff. September 1, 2017.
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