Texas Estates Code

§ 1105.157 — DEPOSITS OF GUARDIAN

ES § 1105.157Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part D. CREATION OF GUARDIANSHIP · Ch. 1105. QUALIFICATION OF GUARDIANS · Art. D. OTHER PROVISIONS RELATING TO BONDS OF GUARDIANS OF THE ESTATE

Statute text

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(a)Instead of giving a surety or sureties on a bond, or to reduce the amount of a bond, the guardian of an estate may deposit the guardian's own cash or securities acceptable to the court with:

(1)a financial institution as defined by Section 201.101, Finance Code, that has its main office or a branch office in this state; or

(2)the registry of the court, for which the clerk of the court shall issue a receipt.

(b)If the deposit is otherwise proper, the deposit must be in an amount or value equal to the amount of the bond required or the bond shall be reduced by the value of assets that are deposited.

(c)A depository that receives a deposit made under Subsection (a) shall issue a receipt for the deposit that:

(1)shows the amount of cash deposited or the amount and description of the securities deposited, as applicable; and

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Legislative history

Acts 2025, 89th Leg., R.S., Ch. 855 (S.B. 1760), Sec. 6, eff. September 1, 2025.