Texas Estates Code

§ 305.207 — DEPOSITS BY PERSONAL SURETY

ES § 305.207Title 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. E. BOND SURETIES

Statute text

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Instead of executing an affidavit under Section 305.203 or creating a lien under Section 305.204 when required, a personal surety may deposit the surety's own cash or securities instead of pledging real property as security. The deposit:

(1)must be made in the same manner a personal representative deposits the representative's own cash or securities; and

(2)is subject, to the extent applicable, to the provisions governing the same type of deposits made by personal representatives.

Legislative history

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