Texas § 712.0357 NATURE OF TOTAL RETURN DISTRIBUTIONS.

Texas Statutes

§ 712.0357 — NATURE OF TOTAL RETURN DISTRIBUTIONS.

Texas § 712.0357

Code HSHealth and Safety Code

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Bluebook

Tex. Health and Safety Code Code Ann. § 712.0357 (2026).

Text

Sec. 712.0357. NATURE OF TOTAL RETURN DISTRIBUTIONS.

(a)A distribution from a total return fund is considered a distribution of all income of the fund that reasonably apportions the total return of the fund, and may not be considered a fundamental departure from applicable state law.

(b)Unless the trust instrument provides otherwise, the trustee of a total return fund shall treat a distribution as first being made from the following sources in order of priority:

(1)from net accounting income;

(2)from ordinary accounting income not allocable to net accounting income;

(3)from net realized short-term capital gains;

(4)from net realized long-term capital gains; and

(5)from the principal of the fund. SUBCHAPTER C. REGULATION AND ENFORCEMENT

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Sec. 712.0357. NATURE OF TOTAL RETURN DISTRIBUTIONS. (a) A distribution from a total return fund is considered a distribution of all income of the fund that reasonably apportions the total return of the fund, and may not be considered a fundamental departure from applicable state law.
(b) Unless the trust instrument provides otherwise, the trustee of a total return fund shall treat a distribution as first being made from the following sources in order of priority:
(1) from net accounting income;
(2) from ordinary accounting income not allocable to net accounting income;
(3) from net realized short-term capital gains;
(4) from net realized long-term capital gains; and
(5) from the principal of the fund.
SUBCHAPTER C. REGULATION AND ENFORCEMENT