Texas Estates Code Title 3, Chapter 1161 - Investments And Loans Of Estates Of Wards

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 1161.001 - Guardian's Duty To Keep Estate Invested
  (a) The guardian of the estate shall invest any funds and assets of a ward's estate available for investment except: (1) if the court orders...
• Texas Section 1161.002 - Standard For Management And Investment Of Estate
  (a) In acquiring, investing, reinvesting, exchanging, retaining, selling, supervising, and managing a ward's estate, a guardian of the estate shall exercise the judgment and care...
• Texas Section 1161.003 - Investments That Meet Standard For Investment
  A guardian of the estate is considered to have exercised the standard required by Section 1161.002(a) with respect to investing the ward's estate if the...
• Texas Section 1161.004 - Restrictions On Investment In Certain Bonds
  (a) In this section, "net funded debt" means the total funded debt less sinking funds on hand. (b) A guardian of the estate may purchase...
• Texas Section 1161.005 - Modification Or Elimination Of Duty Or Standard
  On a showing by clear and convincing evidence that the action is in the best interests of the ward and the ward's estate, the court...
• Texas Section 1161.006 - Retention Of Certain Assets
  (a) Without court approval a guardian of the estate may retain until the first anniversary of the date of receipt any property received into the...
• Texas Section 1161.007 - Hearing To Protect Estate
  (a) The court may, on the court's own motion or on written request of a person interested in the guardianship, cite the guardian of the...

SUBCHAPTER B PROCEDURE FOR MAKING INVESTMENTS OR LOANS OR RETAINING ESTATE ASSETS

• Texas Section 1161.008 - Liability Of Guardian And Guardian's Surety
  (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...
• Texas Section 1161.051 - Procedure In General
  (a) Not later than the 180th day after the date the guardian of the estate qualifies as guardian or another date specified by the court,...
• Texas Section 1161.052 - Court Action
  (a) If the court determines that the action requested in the application is in the best interests of the ward and the ward's estate, the...
• Texas Section 1161.053 - Applicability Of Procedure To Certain Assets
  The fact that an account or other asset is the subject of a specific or general gift under a ward's will, if any, or that...

SUBCHAPTER C INVESTMENTS IN CERTAIN INSURANCE OR ANNUITIES

• Texas Section 1161.054 - Inapplicability Of Procedure To Certain Assets
  (a) The procedure prescribed by this subchapter does not apply if a different procedure is prescribed for an investment or sale by a guardian. (b)...
• Texas Section 1161.101 - Definition
  In this subchapter, "authorized life insurance company" means a stock or mutual legal reserve life insurance company that: (1) is licensed by the Texas Department...
• Texas Section 1161.102 - Authority To Invest In Certain Insurance Or Annuities
  Subject to this subchapter, the guardian of the estate may invest in life, term, or endowment insurance policies, in annuity contracts, or in both, issued...
• Texas Section 1161.103 - Investment Requirements
  (a) An insurance policy in which the guardian of the estate invests must be issued on the life of: (1) the ward; (2) the ward's...
• Texas Section 1161.104 - Procedure For Investing In Insurance Or Annuities
  (a) Before the guardian of the estate may invest in life, term, or endowment insurance policies, in annuity contracts, or in both, the guardian must...
• Texas Section 1161.105 - Continuation Of Preexisting Policies Or Annuities
  (a) A life, term, or endowment insurance policy or an annuity contract owned by the ward when a proceeding for the appointment of a guardian...

SUBCHAPTER D INVESTMENTS IN REAL ESTATE

• Texas Section 1161.106 - Control And Ownership Of Policies Or Annuities
  (a) Control of an insurance policy or an annuity contract and of the incidents of ownership in the policy or contract is vested in the...
• Texas Section 1161.151 - Authority To Invest In Real Estate; Procedure And Requirements
  (a) The guardian of the estate may invest estate assets in real estate if: (1) the guardian believes that the investment is in the ward's...
• Texas Section 1161.152 - Court Authorization To Make Investments
  (a) If the guardian of the estate files an application under this subchapter, the judge shall investigate as necessary to obtain all the facts concerning...

SUBCHAPTER E LOANS AND SECURITY FOR LOANS

• Texas Section 1161.153 - Court Approval Of Contracts Required
  (a) If a contract is made for the investment of money in real estate under a court order, the guardian of the estate shall report...
• Texas Section 1161.201 - Inapplicability Of Subchapter
  This subchapter does not apply to an investment in a debenture, bond, or other publicly traded debt security. Added by Acts 2011, 82nd Leg., R.S.,...
• Texas Section 1161.202 - Authority To Make Loans
  (a) If, at any time, the guardian of the estate has on hand money belonging to the ward in an amount that provides a return...
• Texas Section 1161.203 - Loan Requirements
  (a) Except as provided by Subsection (b), the guardian of the estate shall take as collateral the borrower's note for the money that is loaned,...
• Texas Section 1161.204 - Guardian's Duty To Report Loan To Court
  (a) Not later than the 30th day after the date the guardian of the estate loans money from the estate, the guardian shall file with...
• Texas Section 1161.205 - Guardian's Liability
  (a) Except as provided by Subsection (b), a guardian of the estate who loans estate money with the court's approval on security approved by the...

Last modified: September 28, 2016