Sec. 305.157. RECEIPT FOR DEPOSITS OF PERSONAL REPRESENTATIVE. (a) A depository that receives a deposit made under Section 305.156 instead of a surety or sureties on a bond shall issue a receipt for the deposit that:
(1) shows the amount of cash deposited or the amount and description of the securities deposited, as applicable; and
(2) states that the depository agrees to disburse or deliver the cash or securities only on receipt of a certified copy of an order of the court in which the proceedings are pending.
(b) A receipt issued by a depository under Subsection (a) shall be attached to the personal representative's bond and be delivered to and filed by the county clerk after approval by the judge.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle G - Initial Appointment of Personal Representative and Opening of Administration
Chapter 305 - Qualification of Personal Representatives
Subchapter D. Amount of Bond and Associated Deposits
Section 305.151. General Standard Regarding Amount of Bond
Section 305.152. Evidentiary Hearing on Amount of Bond
Section 305.153. Specific Bond Amount
Section 305.154. Agreement Regarding Deposit of Estate Assets
Section 305.155. Deposit of Estate Assets on Terms Prescribed by Court
Section 305.156. Deposits of Personal Representative
Section 305.157. Receipt for Deposits of Personal Representative
Section 305.158. Bond Required Instead of Deposits by Personal Representative
Section 305.159. Withdrawal of Deposits on Closing of Administration
Section 305.160. Increased or Additional Bonds in Certain Circumstances