Sec. 142.001. MANAGEMENT BY DECREE. (a) In a suit in which a minor or incapacitated person who has no legal guardian is represented by a next friend or an appointed guardian ad litem, the court, on application and hearing, may provide by decree for the investment of funds accruing to the minor or other person under the judgment in the suit.
(b) If the decree is made during vacation, it must be recorded in the minutes of the succeeding term of the court.
Acts 1983, 68th Leg., p. 3711, ch. 576, Sec. 1, eff. Jan. 1, 1984. Amended by Acts 1984, 68th Leg., 2nd C.S., ch. 18, Sec. 14(b), eff. Oct. 2, 1984; Acts 1999, 76th Leg., ch. 195, Sec. 2, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 10 - Miscellaneous Beneficial Property Interests
Subtitle A - Persons Under Disability
Chapter 142 - Management of Property Recovered in Suit by a Next Friend or Guardian Ad Litem
Section 142.001. Management by Decree
Section 142.002. Management by Bonded Manager
Section 142.003. Compensation and Duties of Managers
Section 142.004. Investment of Funds
Section 142.005. Trust for Property
Section 142.006. Claims Against Property
Section 142.007. Incapacitated Person
Section 142.008. Structured Settlement
Section 142.009. Annuity Contract Requirements for Structured Settlement
Section 142.010. Transfer of Trust Property to a Pooled Trust Subaccount