Texas Estates Code

§ 1101.156 — DEPOSIT OF ESTATE ASSETS

ES § 1101.156Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part D. CREATION OF GUARDIANSHIP · Ch. 1101. GENERAL PROCEDURE TO APPOINT GUARDIAN · Art. D. COURT ACTION

Statute text

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(a)At the time or after an order appointing a guardian is signed by the court but before letters of guardianship are issued, a court may, on the request of a party, require the deposit for safekeeping of cash, securities, or other assets of a ward or proposed ward in a financial institution described by Section 1105.155(b).

(b)The amount of the bond required to be given by the guardian under Section 1105.101 shall be reduced in proportion to the amount of the cash or the value of the securities or other assets deposited under this section.

Legislative history

Added by Acts 2015, 84th Leg., R.S., Ch. 1031 (H.B. 1438), Sec. 9, eff. September 1, 2015.