Texas § ES.1105.155 - AGREEMENT REGARDING DEPOSIT OF ESTATE ASSETS

§ ES.1105.155. AGREEMENT REGARDING DEPOSIT OF ESTATE ASSETS

AGREEMENT REGARDING DEPOSIT OF ESTATE ASSETS. (a) If the court considers it to be in the best interests of the ward, the court may require the guardian of the estate and the corporate or personal sureties on the guardian's bond to agree to deposit cash and other assets of the guardianship estate in a depository described by Subsection (b). If the depository is otherwise proper, the court may require the deposit to be made in a manner so as to prevent the withdrawal of the money or other assets in the guardianship estate without the written consent of the surety or on court order made after notice to the surety. (b) Cash and assets must be deposited under this section in a financial institution as defined by Section 201.101 , Finance Code, that: (1) has its main office or a branch office in this state; and (2) is qualified to act as a depository in this state under the laws of this state or the United States. (c) An agreement made by a guardian and the sureties on the guardian's bond under this section does not release the principal or sureties from liability, or change the liability of the principal or sureties, as established by the terms of the bond. Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759 ), Sec. 1.02, eff. January 1, 2014.