Texas Business Organizations Code 22.404 – Power to Act as Trustee
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Terms Used In Texas Business Organizations Code 22.404
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: A person or institution holding and administering property in trust.
A church benefits board may act as:
(1) a trustee under a lawful trust committed to the board by contract, will, or otherwise; and
(2) an agent for the performance of a lawful act relating to the purposes of the trust.