Bill Text: TX SB1240 | 2013-2014 | 83rd Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
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-Comm_Sub.html
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-Comm_Sub.html
By: Duncan, Carona, Watson | S.B. No. 1240 | |
(In the Senate - Filed March 6, 2013; March 13, 2013, read | ||
first time and referred to Committee on Jurisprudence; | ||
April 17, 2013, reported favorably by the following vote: Yeas 5, | ||
Nays 0; April 17, 2013, sent to printer.) |
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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 PARTITION PROHIBITED. A partition | ||
of any mineral interest owned or claimed by a charitable trust may | ||
not be compelled by a joint owner or claimant. | ||
SECTION 2. The change in law made by this Act applies only | ||
to an action to compel a partition of a mineral interest 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. | ||
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