1-1 By: Thompson (Senate Sponsor - Brown) H.B. No. 1083 1-2 (In the Senate - Received from the House April 2, 2001; 1-3 April 3, 2001, read first time and referred to Committee on 1-4 Jurisprudence; April 18, 2001, reported favorably by the following 1-5 vote: Yeas 5, Nays 0; April 18, 2001, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to the effect of a bankruptcy proceeding on a durable 1-9 power of attorney. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. Chapter XII, Texas Probate Code, is amended by 1-12 adding Section 487A to read as follows: 1-13 Sec. 487A. EFFECT OF BANKRUPTCY PROCEEDING. After execution 1-14 of a durable power of attorney, the filing of a voluntary or 1-15 involuntary petition in bankruptcy in connection with the 1-16 principal's debts does not revoke or terminate the agency as to the 1-17 principal's attorney in fact or agent. Any act the attorney in 1-18 fact or agent may undertake with respect to the principal's 1-19 property is subject to the limitations and requirements of the 1-20 United States Bankruptcy Code until a final determination is made 1-21 in the bankruptcy proceeding. 1-22 SECTION 2. This Act takes effect September 1, 2001. 1-23 * * * * *