Sec. 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 manner provided by this chapter, the guardian and the guardian's surety are liable for the principal and the greater of:
(1) the highest legal rate of interest on the principal during the period the guardian failed to invest or lend the assets; or
(2) the overall return that would have been made on the principal if the principal were invested in the manner provided by this chapter.
(b) In addition to the liability under Subsection (a), the guardian and the guardian's surety are liable for attorney's fees, litigation expenses, and costs related to a proceeding brought to enforce this section.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.
Structure Texas Statutes
Title 3 - Guardianship and Related Procedures
Subtitle E - Administration of Guardianship
Chapter 1161 - Investments and Loans of Estates of Wards
Subchapter A. General Provisions
Section 1161.001. Guardian's Duty to Keep Estate Invested
Section 1161.002. Standard for Management and Investment of Estate
Section 1161.003. Investments That Meet Standard for Investment
Section 1161.004. Restrictions on Investment in Certain Bonds
Section 1161.005. Modification or Elimination of Duty or Standard
Section 1161.006. Retention of Certain Assets
Section 1161.007. Hearing to Protect Estate
Section 1161.008. Liability of Guardian and Guardian's Surety