Amend SB 506 on page 11 by inserting a new SECTION 12 and SECTION 13 as follows and renumbering subsequent sections accordingly. SECTION 12. Subsection (a), Section 450, Texas Probate Code, is amended to read as follows: (a) Any of the following provisions in an insurance policy, contract of employment, bond, mortgage, promissory note, deposit agreement, employees' trust, retirement account, deferred compensation arrangement, custodial agreement, pension plan, trust agreement, conveyance of real or personal property, securities, accounts with financial institutions as defined in Part 1 of this Chapter or any other written instrument effective as a contract, gift, conveyance, or trust is deemed to be nontestamentary, and this code does not invalidate the instrument or any provision: (1) that money or other benefits theretofore due to, controlled, or owned by a decedent shall be paid after his death to a person designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently; (2) that any money due or to become due under the instrument shall cease to be payable in event of death of the promisee or the promissor before payment or demand; or (3) that any property which is the subject of the instrument shall pass to a person designated by the decedent in either the instrument or a separate writing, including a will, executed at the same time as the instrument or subsequently. SECTION 13. Part 4, Chapter XI, Texas Probate Code, as added by SB 504, Acts of the 75th Legislature, Regular Session, 1997, is repealed.