BILL ANALYSIS



S.B. 172
By: Luna (Puente)
May 5, 1995
Committee Report (Unamended)


BACKGROUND

Currently, persons who grant powers of attorney experience
difficulty in obtaining access to their personal financial records.

PURPOSE

S.B. 172 would require attorneys in fact to maintain and make
accessible records of all transactions for the principals they
represent.

SECTION-BY-SECTION ANALYSIS

     SECTION 1.  Amends Chapter XII, Texas Probate Code, (Durable
Power of Attorney Act), by adding Section 490A.

     Section 490A.  ACCOUNTING RECORDS.
     (a) requires the attorney in fact or agent of a principal with
regard to a class of transaction under a durable power of attorney
or statutory durable powers of attorney to maintain appropriate
records of each transaction, including an account of receipts and
disbursements.

     (b) Requires the attorney in fact or agent to make the records
available for inspection and review to the principal upon request.

     (c) Requires the attorney in fact or agent to maintain the
records for a minimum of four years after the durable power of
attorney expires or is revoked by the principal.

     SECTION 2.  Effective date:  September 1, 1995.  Makes
application of this act prospective.

     SECTION 3.  Emergency Clause.

RULEMAKING AUTHORITY

It is the committee's opinion that this bill does not expressly
grant any additional rulemaking authority to a state officer,
department, agency or institution.

SUMMARY OF COMMITTEE ACTION

Senate Bill 172 was considered by the Committee on Civil Practices
in a public hearing on March 22, 1995. No one testified in support
of, in opposition to or neutrally on the bill. The chair left the
bill pending. S.B. 172 was considered by the committee in a public
hearing on May 3, 1995. The bill was reported favorably without
amendment with the recommendation that it do pass and be printed,
by a record vote of seven ayes, zero nays, zero pnv and two absent.