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A BILL TO BE ENTITLED
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AN ACT
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relating to the demand for an accounting from an attorney in fact or |
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agent of a principal by a guardian of the principal. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 751.104, Estates Code, is amended to |
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read as follows: |
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Sec. 751.104. ACCOUNTING. (a) The principal or a guardian |
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of the principal may demand an accounting by the attorney in fact or |
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agent. |
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(b) Unless otherwise directed by the principal or a guardian |
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of the principal, an accounting under Subsection (a) must include: |
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(1) the property belonging to the principal that has |
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come to the attorney in fact's or agent's knowledge or into the |
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attorney in fact's or agent's possession; |
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(2) each action taken or decision made by the attorney |
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in fact or agent; |
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(3) a complete account of receipts, disbursements, and |
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other actions of the attorney in fact or agent that includes |
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the source and nature of each receipt, disbursement, or action, |
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with receipts of principal and income shown separately; |
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(4) a listing of all property over which the attorney |
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in fact or agent has exercised control that includes: |
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(A) an adequate description of each asset; and |
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(B) the asset's current value, if the value is |
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known to the attorney in fact or agent; |
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(5) the cash balance on hand and the name and location |
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of the depository at which the cash balance is kept; |
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(6) each known liability; and |
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(7) any other information and facts known to the |
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attorney in fact or agent as necessary for a full and definite |
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understanding of the exact condition of the property belonging to |
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the principal. |
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(c) Unless directed otherwise by the principal or a guardian |
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of the principal, the attorney in fact or agent shall also provide |
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to the principal or guardian, as appropriate, all documentation |
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regarding the principal's property. |
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SECTION 2. Section 751.105, Estates Code, is amended to |
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read as follows: |
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Sec. 751.105. EFFECT OF FAILURE TO COMPLY; SUIT. If the |
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attorney in fact or agent fails or refuses to inform the principal, |
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provide documentation, or deliver an accounting under Section |
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751.104 within 60 days of a demand under that section, or a longer |
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or shorter period as demanded by the principal or a guardian of the |
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principal or ordered by a court, the principal or guardian may file |
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suit to: |
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(1) compel the attorney in fact or agent to deliver the |
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accounting or the assets; or |
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(2) terminate the power of attorney. |
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SECTION 3. The changes in law made by this Act to Sections |
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751.104 and 751.105, Estates Code, apply to a guardianship created |
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before, on, or after the effective date of this Act. |
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SECTION 4. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2017. |