Tex. Est. Code Section 305.155
Deposit of Estate Assets on Terms Prescribed by Court

(a)

Cash, securities, or other personal assets of an estate or to which the estate is entitled may or, if considered by the court to be in the best interest of the estate, shall, be deposited in one or more depositories described by Section 305.154 (Agreement Regarding Deposit of Estate Assets)(c) on terms prescribed by the court.

(b)

The court in which the proceedings are pending may authorize or require additional estate assets currently on hand or that accrue during the pendency of the proceedings to be deposited as provided by Subsection (a) on:

(1)

the court’s own motion; or

(2)

the written application of the personal representative or any other person interested in the estate.

(c)

The amount of the bond required to be given by the personal representative shall be reduced in proportion to the amount of the cash and the value of the securities or other assets deposited under this section.

(d)

Cash, securities, or other assets deposited under this section may be withdrawn in whole or in part from the depository only in accordance with a court order, and the amount of the personal representative’s bond shall be increased in proportion to the amount of the cash and the value of the securities or other assets authorized to be withdrawn.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.

Source: Section 305.155 — Deposit of Estate Assets on Terms Prescribed by Court, https://statutes.­capitol.­texas.­gov/Docs/ES/htm/ES.­305.­htm#305.­155 (accessed Jun. 5, 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:
Jun. 5, 2024

§ 305.155’s source at texas​.gov