1-1 AN ACT 1-2 relating to the effect of a bankruptcy proceeding on a durable 1-3 power of attorney. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Chapter XII, Texas Probate Code, is amended by 1-6 adding Section 487A to read as follows: 1-7 Sec. 487A. EFFECT OF BANKRUPTCY PROCEEDING. After execution 1-8 of a durable power of attorney, the filing of a voluntary or 1-9 involuntary petition in bankruptcy in connection with the 1-10 principal's debts does not revoke or terminate the agency as to the 1-11 principal's attorney in fact or agent. Any act the attorney in 1-12 fact or agent may undertake with respect to the principal's 1-13 property is subject to the limitations and requirements of the 1-14 United States Bankruptcy Code until a final determination is made 1-15 in the bankruptcy proceeding. 1-16 SECTION 2. This Act takes effect September 1, 2001. _______________________________ _______________________________ President of the Senate Speaker of the House I certify that H.B. No. 1083 was passed by the House on March 29, 2001, by a non-record vote. _______________________________ Chief Clerk of the House I certify that H.B. No. 1083 was passed by the Senate on May 1, 2001, by the following vote: Yeas 30, Nays 0, 1 present, not voting. _______________________________ Secretary of the Senate APPROVED: __________________________ Date __________________________ Governor