Sec. 751.057. EFFECT OF BANKRUPTCY PROCEEDING. (a) The filing of a voluntary or involuntary petition in bankruptcy in connection with the debts of a principal who has executed a durable power of attorney does not revoke or terminate the agency as to the principal's agent.
(b) Any act the agent may undertake with respect to the principal's property is subject to the limitations and requirements of the United States Bankruptcy Code (11 U.S.C. Section 101 et seq.) until a final determination is made in the bankruptcy proceeding.
Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.01, eff. January 1, 2014.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 834 (H.B. 1974), Sec. 4, eff. September 1, 2017.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle P - Durable Powers of Attorney
Chapter 751 - General Provisions Regarding Durable Powers of Attorney
Subchapter B. Effect of Certain Acts on Exercise of Durable Power of Attorney
Section 751.051. Effect of Acts Performed by Agent
Section 751.052. Relation of Attorney in Fact or Agent to Court-Appointed Guardian of Estate
Section 751.054. Knowledge of Termination of Power; Good-Faith Acts