Sec. 1356.054. SET-ASIDE AND PRESERVATION OF PORTION OF NET EARNINGS. (a) Notwithstanding any other law, in an order issued under Section 1356.051, the court may require that a portion of the net earnings of the minor under the contract be set aside and preserved for the benefit of the minor in a trust created under Section 1301.053 or 1301.054 or a similar trust created under the laws of another state.
(b) The amount to be set aside under this section must be reasonable as determined by the court.
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 1356 - Court Approval of Certain Arts and Entertainment, Advertisement, and Sports Contracts
Subchapter B. Court Action Regarding Certain Contracts
Section 1356.051. Approval of Certain Contracts of a Minor
Section 1356.052. Notice Required
Section 1356.053. Necessary Parties to Proceeding
Section 1356.054. Set-Aside and Preservation of Portion of Net Earnings