SENATE BILL 112 |
SENATE AUTHOR: Brown, J. E. "Buster" |
EFFECTIVE: 05-17-99 |
HOUSE SPONSOR: Nixon, Joe |
Senate Bill 112 amends the Property Code to authorize a next friend who represents a minor or incapacitated plaintiff in a lawsuit, and the clerk of the court with proper jurisdiction, to invest money recovered by the minor or plaintiff in the Texas tomorrow fund. The act also provides that the court may waive bonding requirements for such investments.
In addition, Senate Bill 112 amends the Texas Probate Code to authorize the trustee of a management trust created for the benefit of a ward of the state to invest funds in the Texas tomorrow fund.