By:  Luna                                              S.B. No. 172
                                 A BILL TO BE ENTITLED
                                        AN ACT
    1-1  relating to certain records of transactions conducted under durable
    1-2  powers of attorney.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  The Durable Power of Attorney Act (Chapter XII,
    1-5  Texas Probate Code) is amended by adding Section 490A to read as
    1-6  follows:
    1-7        Sec. 490A.  ACCOUNTING RECORDS.  (a)  The attorney in fact or
    1-8  agent of a principal empowered to act for the principal with regard
    1-9  to a class of transactions under a durable power of attorney or
   1-10  statutory durable power of attorney shall maintain appropriate
   1-11  records of each transaction, including an accounting of receipts
   1-12  and disbursements.
   1-13        (b)  On request of the principal, the attorney in fact or
   1-14  agent shall make the records available to the principal for
   1-15  inspection and review.
   1-16        (c)  The attorney in fact or agent shall maintain the records
   1-17  until at least the fourth anniversary of the date the durable power
   1-18  of attorney or statutory durable power of attorney expires or is
   1-19  expressly revoked by the principal.
   1-20        SECTION 2.  This Act takes effect September 1, 1995, and the
   1-21  change in law made by this Act applies only to a durable power of
   1-22  attorney or statutory durable power of attorney that is executed on
   1-23  or after that date.  A durable power of attorney or statutory
   1-24  durable power of attorney that is executed before the effective
    2-1  date of this Act is governed by the law in effect on the date the
    2-2  power of attorney was executed, and that law is continued in effect
    2-3  for that purpose.
    2-4        SECTION 3.  The importance of this legislation and the
    2-5  crowded condition of the calendars in both houses create an
    2-6  emergency and an imperative public necessity that the
    2-7  constitutional rule requiring bills to be read on three several
    2-8  days in each house be suspended, and this rule is hereby suspended.