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Texas Estates Code - EST § 1161.003. Investments That Meet Standard for Investment

Current as of January 01, 2024 | Updated by Findlaw Staff

A guardian of the estate is considered to have exercised the standard required by Section 1161.002(a) with respect to investing the ward's estate if the guardian invests in the following:

(1) bonds or other obligations of the United States;

(2) tax-supported bonds of this state;

(3) except as limited by Sections 1161.004(b) and (c), tax-supported bonds of a county, district, political subdivision, or municipality in this state;

(4) if the payment of the shares or share accounts is insured by the Federal Deposit Insurance Corporation, shares or share accounts of:

(A) a state savings and loan association or savings bank that has its main office or a branch office in this state;  or

(B) a federal savings and loan association or savings bank that has its main office or a branch office in this state;

(5) collateral bonds that:

(A) are issued by a company incorporated under the laws of this state that has a paid-in capital of $1 million or more;

(B) are a direct obligation of the company;  and

(C) are specifically secured by first mortgage real estate notes or other securities pledged with a trustee;

(6) interest-bearing time deposits that may be withdrawn on or before one year after demand in a bank that does business in this state, if the payment of the time deposits is insured by the Federal Deposit Insurance Corporation;  or

(7) an ABLE account established in accordance with the Texas Achieving a Better Life Experience (ABLE) Program under Subchapter J, Chapter 54, Education Code.

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Cite this article: FindLaw.com - Texas Estates Code - EST § 1161.003. Investments That Meet Standard for Investment - last updated January 01, 2024 | https://codes.findlaw.com/tx/estates-code/est-sect-1161-003/

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