Texas Estates Code

§ 305.157 — RECEIPT FOR DEPOSITS OF PERSONAL REPRESENTATIVE

ES § 305.157Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part G. INITIAL APPOINTMENT OF PERSONAL REPRESENTATIVE AND OPENING OF ADMINISTRATION · Ch. 305. QUALIFICATION OF PERSONAL REPRESENTATIVES · Art. D. AMOUNT OF BOND AND ASSOCIATED DEPOSITS

Statute text

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(a)A depository that receives a deposit made under Section 305.156 instead of a surety or sureties on a bond 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

(2)states that the depository agrees to disburse or deliver the cash or securities only on receipt of a certified copy of an order of the court in which the proceedings are pending.

(b)A receipt issued by a depository under Subsection (a) shall be attached to the personal representative's bond and be delivered to and filed by the county clerk after approval by the judge.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.