Texas Property Code

§ 142.008 — STRUCTURED SETTLEMENT

PR § 142.008Title 10. MISCELLANEOUS BENEFICIAL PROPERTY INTERESTS · Part A. PERSONS UNDER DISABILITY · Ch. 142. MANAGEMENT OF PROPERTY RECOVERED IN SUIT BY A NEXT FRIEND OR GUARDIAN AD LITEM

Statute text

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(a)In a suit in which a minor or incapacitated person who has no legal guardian is represented by a next friend or an appointed guardian ad litem, the court, on a motion from the parties, may provide for a structured settlement that:

(1)provides for periodic payments; and

(2)is funded by:

(A)an obligation guaranteed by the United States government; or

(B)an annuity contract that meets the requirements of Section 142.009.

(b)The person obligated to fund a structured settlement shall provide to the court:

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Legislative history

Added by Acts 1999, 76th Leg., ch. 195, Sec. 5, eff. Sept. 1, 1999.