Sec. 1354.005. USE OF EXCESS ESTATE ASSETS. (a) A receiver who, while the receivership is pending, has possession of an amount of money belonging to the incapacitated person in excess of the amount needed for current necessities and expenses may, under direction of the judge, invest, lend, or contribute all or part of the excess money in the manner, for the security, and on the terms provided by this title for investments, loans, or contributions by guardians.
(b) The receiver shall report to the judge all transactions made under this section in the same manner that a report is required of a guardian under this title.
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 I - Other Special Proceedings and Substitutes for Guardianship
Chapter 1354 - Receivership for Estates of Certain Incapacitated Persons
Section 1354.001. Appointment of Receiver
Section 1354.003. Powers and Duties of Receiver
Section 1354.004. Expenditures by Receiver
Section 1354.005. Use of Excess Estate Assets
Section 1354.006. Receiver's Expenses, Account, and Compensation
Section 1354.007. Closing Receivership; Notice