BILL ANALYSIS


                                                         S.B. 172
                                                         By: Luna
                                                    Jurisprudence
                                                          2-14-95
                                       Committee Report (Amended)
BACKGROUND

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

PURPOSE

As proposed, S.B. 172 requires attorneys in fact to maintain and
make accessible records of all transactions for the principals they
represent. 

RULEMAKING AUTHORITY

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

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 481, Texas Probate Code, (Durable Power of Attorney Act), by
adding Section 490A, as follows:

     Sec. 490A. ACCOUNTING RECORDS.  (a)  Requires the attorney in fact or agent of a
     principal with regard to a class of transactions under a durable power of attorney or statutory
     durable powers of attorney to maintain appropriate records of each transaction, including an
     accounting of receipts and disbursements.
     
     (b)  Requires the attorney in fact or agent to make the records available 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.