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


Senate Research CenterS.B. 112
76R151 MCK-DBy: Brown
Jurisprudence
2/16/1999
Committee Report (Amended)


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. This bill
would allow the next friend or trustee to invest money recovered by a
plaintiff in the Texas tomorrow fund.   

PURPOSE

As proposed, 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(a), Property Code, 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 in the Texas tomorrow fund
established by Chapter 54F, Education Code.  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.

SUMMARY OF COMMITTEE CHANGES

SECTION 2.

Amends Section 868, Probate Code, to authorize a trustee to invest funds of
the trust in the Texas tomorrow fund when it is in the best interest of the
ward. 
 
SECTION 3.

 Renumbers existing SECTION 2 as SECTION 3.