Bill Text: TX SB1240 | 2013-2014 | 83rd Legislature | Enrolled
Bill Title: Relating to the partition of mineral interests of a charitable trust.
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Passed) 2013-06-14 - Effective immediately [SB1240 Detail]
Download: Texas-2013-SB1240-Enrolled.html
| S.B. No. 1240 | ||
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| relating to the partition of mineral interests of a charitable | ||
| trust. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subtitle C, Title 9, Property Code, is amended by | ||
| adding Chapter 124 to read as follows: | ||
| CHAPTER 124. PARTITION OF MINERAL INTERESTS OF CHARITABLE TRUST | ||
| Sec. 124.001. DEFINITIONS. In this chapter: | ||
| (1) "Charitable entity" means a corporation, trust, | ||
| community chest, fund, foundation, or other entity organized for | ||
| scientific, educational, philanthropic, or environmental purposes, | ||
| social welfare, the arts and humanities, or another civic or public | ||
| purpose described by Section 501(c)(3), Internal Revenue Code of | ||
| 1986. | ||
| (2) "Charitable trust" means a charitable entity, a | ||
| trust the stated purpose of which is to benefit a charitable entity, | ||
| or an inter vivos or testamentary gift to a charitable entity. | ||
| (3) "Mineral interest" means an interest in oil, gas, | ||
| or other mineral substance in place or that otherwise constitutes | ||
| real property without regard to the depth at which such mineral | ||
| substance is found. | ||
| Sec. 124.002. COMPULSORY DIVESTMENT PROHIBITED. In a suit | ||
| or other judicial proceeding the object or effect of which is to | ||
| compel the partition of a mineral interest owned or claimed by a | ||
| charitable trust, a sale or other action that would divest the | ||
| charitable trust of the trust's ownership of a mineral interest may | ||
| not be ordered unless the trust has refused to execute a mineral | ||
| lease, the terms of which are fair and reasonable, to the plaintiff | ||
| or petitioner in the proceeding. | ||
| SECTION 2. The change in law made by this Act applies only | ||
| to a proceeding commenced on or after the effective date of this | ||
| Act. | ||
| SECTION 3. 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, 2013. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I hereby certify that S.B. No. 1240 passed the Senate on | ||
| April 25, 2013, by the following vote: Yeas 30, Nays 0; and that | ||
| the Senate concurred in House amendment on May 15, 2013, by the | ||
| following vote: Yeas 31, Nays 0. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| I hereby certify that S.B. No. 1240 passed the House, with | ||
| amendment, on May 10, 2013, by the following vote: Yeas 143, | ||
| Nays 0, two present not voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| Approved: | ||
| ______________________________ | ||
| Date | ||
| ______________________________ | ||
| Governor | ||
