SRC-JJJ S.B. 112 76(R)BILL ANALYSIS


Senate Research CenterS.B. 112
By: Brown
Jurisprudence
7/21/1999
Enrolled


DIGEST 

Currently, Texas law does not allow a plaintiff who is a minor or
incapacitated person represented by a next friend or trustee to invest
money recovered by the plaintiff in the Texas tomorrow fund. S.B. 112 will
allow the next friend or trustee to invest money recovered by a plaintiff
in the Texas tomorrow fund.   

PURPOSE

As enrolled, S.B. 112 establishes provisions regarding investing in the
Texas tomorrow fund.  

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 142.004, Property Code, by amending Subsection
(a) and adding Subsection (e), to authorize any money recovered by a
plaintiff, when the plaintiff is a minor or incapacitated person who has no
legal guardian and is represented by a next friend, to be invested by the
next friend or the clerk of the court in the Texas tomorrow fund
established by Chapter 54F, Education Code.  Authorizes the court to waive
any bonding requirement, if the money is invested under Subsection
(a)(2)(E).  Makes conforming changes. 

SECTION 2.  Amends Section 868, Probate Code, by adding Subsection (f), to
authorize a  trustee to invest funds of the trust in the Texas tomorrow
fund, if the trustee determines that it is in the best interest of the
ward. 

SECTION 3.  Emergency clause.
            Effective date: upon passage.