H.B. No. 2333
  relating to noncharitable trusts without an ascertainable
         SECTION 1.  Section 111.004(4), Property Code, is amended to
  read as follows:
               (4)  "Express trust" means a fiduciary relationship
  with respect to property which arises as a manifestation by the
  settlor of an intention to create the relationship and which
  subjects the person holding title to the property to equitable
  duties to deal with the property:
                     (A)  for the benefit of another person; or
                     (B)  for a particular purpose, in the case of a
  trust subject to Subchapter F.
         SECTION 2.  Chapter 112, Property Code, is amended by adding
  Subchapter F to read as follows:
         Sec. 112.121.  VALIDITY OF TRUST; APPLICABILITY.  (a) A
  trust may be created for a noncharitable purpose without a definite
  or definitely ascertainable beneficiary.  A noncharitable purpose
  may include seeking economic or noneconomic benefits.
         (b)  This subchapter does not apply to a trust created under
  Section 112.037.
         Sec. 112.122.  ENFORCEMENT OF TRUST. (a)  A trust created
  under this subchapter must be enforced by one or more persons
  appointed in the terms of the trust to serve as a trust enforcer.
         (b)  A trust enforcer shall enforce the purpose and terms of
  the trust. The trust enforcer is not a beneficiary of the trust,
  but has the rights of a beneficiary provided under this title and
  the common law of this state, or as otherwise provided by the terms
  of the trust.
         (c)  A trust enforcer shall exercise any authority granted
  under the terms of the trust or the provisions of this section as a
  fiduciary owing a duty to the trust and is entitled to reasonable
  compensation for serving as trust enforcer.
         (d)  A trust enforcer may consent to, waive, object to, or
  petition an appropriate court concerning any matter regarding the
  purpose or administration of the trust.
         (e)  Except as otherwise provided by the terms of the trust,
  if more than one person is acting as a trust enforcer, any action in
  that capacity must be decided by the majority vote of the persons
  acting as trust enforcers. If there are an even number of trust
  enforcers and a majority vote cannot be established, the decision
  of the trustee controls.
         (f)  The terms of the trust may provide for the succession of
  a trust enforcer or a process of appointing any successor trust
         (g)  If no person is serving as a trust enforcer for a trust
  created under this subchapter, a court properly exercising
  jurisdiction shall appoint one or more persons to serve as the trust
  PROPERTY. (a) Property of a trust created under this subchapter
  may be applied only to the intended purpose of the trust, except to
  the extent that a court finds that the value of the trust property
  exceeds the amount required for the intended purpose of the trust.
         (b)  Except as provided by the terms of the trust, property
  found by a court not to be required for the trust's intended purpose
  shall be distributed:
               (1)  as provided by the terms of the trust; or
               (2)  if the trust does not provide for the distribution
  of such property, to the settlor if then living or to the settlor's
  successors in interest.
         SECTION 3.  Subchapter F, Chapter 112, Property Code, as
  added by this Act, applies only to a trust created on or after the
  effective date of this Act.
         SECTION 4.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2023.
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
         I certify that H.B. No. 2333 was passed by the House on May 9,
  2023, by the following vote:  Yeas 137, Nays 3, 2 present, not
  Chief Clerk of the House   
         I certify that H.B. No. 2333 was passed by the Senate on May
  24, 2023, by the following vote:  Yeas 31, Nays 0.
  Secretary of the Senate    
  APPROVED:  _____________________