Texas Estates Code

§ 1161.008 — LIABILITY OF GUARDIAN AND GUARDIAN'S SURETY

ES § 1161.008Title 3. GUARDIANSHIP AND RELATED PROCEDURES · Part E. ADMINISTRATION OF GUARDIANSHIP · Ch. 1161. INVESTMENTS AND LOANS OF ESTATES OF WARDS · Art. A. GENERAL PROVISIONS

Statute text

View on source

(a)In addition to any other remedy authorized by law, if the guardian of the estate fails to invest or lend estate assets in the manner provided by this chapter, the guardian and the guardian's surety are liable for the principal and the greater of:

(1)the highest legal rate of interest on the principal during the period the guardian failed to invest or lend the assets; or

(2)the overall return that would have been made on the principal if the principal were invested in the manner provided by this chapter.

(b)In addition to the liability under Subsection (a), the guardian and the guardian's surety are liable for attorney's fees, litigation expenses, and costs related to a proceeding brought to enforce this section.

Legislative history

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.