Tex. Est. Code Section 305.154
Agreement Regarding Deposit of Estate Assets

(a)

A personal representative may agree with the surety or sureties on a bond, either corporate or personal, for the deposit of any cash and other estate assets in a depository described by Subsection (c), if the deposit is otherwise proper, in a manner that prevents the withdrawal of the cash or other assets without:

(1)

the written consent of the surety or sureties; or

(2)

a court order entered after notice to the surety or sureties as directed by the court.

(b)

The court may require the action described by Subsection (a) if the court considers that action to be in the best interest of the estate.

(c)

Cash and assets must be deposited under this section in a financial institution, as defined by Section 201.101 (Definitions), Finance Code, that:

(1)

has its main office or a branch office in this state; and

(2)

is qualified to act as a depository in this state under the laws of this state or the United States.

(d)

An agreement under this section may not release the principal or sureties from liability, or change the liability of the principal or sureties, as established by the terms of the bond.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.

Source: Section 305.154 — Agreement Regarding Deposit of Estate Assets, https://statutes.­capitol.­texas.­gov/Docs/ES/htm/ES.­305.­htm#305.­154 (accessed May 25, 2024).

305.001
Definitions 305.002
Manner of Qualification of Personal Representative 305.003
Period for Taking Oath or Making and Signing Declaration 305.004
Period for Giving Bond 305.051
Oath or Declaration of Executor or Administrator with Will Annexed 305.052
Oath or Declaration of Administrator 305.053
Oath or Declaration of Temporary Administrator 305.054
Administration of Oath 305.055
Filing and Recording of Oath or Declaration 305.101
Bond Generally Required 305.102
Bond Required from Executor Otherwise Exempt 305.103
Bonds of Joint Personal Representatives 305.104
Bond of Married Person 305.106
General Formalities 305.107
Subscription of Bond by Principals and Sureties 305.108
Form of Bond 305.109
Filing of Bond 305.110
Failure to Give Bond 305.111
Bond Not Void on First Recovery 305.151
General Standard Regarding Amount of Bond 305.152
Evidentiary Hearing on Amount of Bond 305.153
Specific Bond Amount 305.154
Agreement Regarding Deposit of Estate Assets 305.155
Deposit of Estate Assets on Terms Prescribed by Court 305.156
Deposits of Personal Representative 305.157
Receipt for Deposits of Personal Representative 305.158
Bond Required Instead of Deposits by Personal Representative 305.159
Withdrawal of Deposits on Closing of Administration 305.160
Increased or Additional Bonds in Certain Circumstances 305.201
Personal or Authorized Corporate Sureties 305.202
Sureties for Certain Bonds 305.203
Affidavit of Personal Surety 305.204
Lien on Real Property Owned by Personal Sureties 305.205
Subordination of Lien on Real Property Owned by Personal Sureties 305.206
Release of Lien on Real Property Owned by Personal Sureties 305.207
Deposits by Personal Surety 305.251
Grounds for Requiring New Bond 305.252
Court Order or Citation on New Bond 305.253
Show Cause Hearing on New Bond Requirement 305.254
Effect of Order Requiring New Bond 305.255
New Bond in Decreased Amount 305.256
Request by Surety for New Bond 305.257
Discharge of Former Sureties on Execution of New Bond
Green check means up to date. Up to date

Accessed:
May 25, 2024

§ 305.154’s source at texas​.gov