Enrolled Bill Summary

Senate Bill 1388 amends the Property Code to authorize a court to provide for a structured settlement in a suit in which a minor or incapacitated person is represented by a next friend or an appointed guardian ad litem. The settlement must be funded by an obligation guaranteed by the United States or an annuity contract provided by an insurance company that meets certain requirements. The act also provides an appointed guardian ad litem with the same powers and duties as a next friend with respect to the investment of money recovered in such a suit.