HBA-RBT S.B. 1551 76(R)    BILL ANALYSIS


Office of House Bill AnalysisS.B. 1551
By: Ellis
Judicial Affairs
5/10/1999
Engrossed



BACKGROUND AND PURPOSE 

Currently, state law does not prescribe a procedure for independent
executors of estates to obtain a release.  Executors can be forced by
beneficiaries, via litigation, to distribute all assets and defend any
subsequent lawsuits with personal funds.  S.B. 1551 would outline
procedures for releasing independent executors from fully disclosed
transactions. 

RULEMAKING AUTHORITY

It is the opinion of the Office of House Bill Analysis that this bill does
not expressly delegate any additional rulemaking authority to a state
officer, department, agency, or institution. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Chapter VII(3), Texas Probate Code, by adding Sections
221A and 221B, as follows: 

Sec. 221A.  CHANGE OF RESIDENT AGENT.  Authorizes a personal representative
to change its resident agent to accept service of process in a probate
proceeding or other action relating to the estate by filing a statement of
change entitled "Designation of Successor Resident Agent" with the court in
which the probate proceeding is pending.  Sets forth name and address
requirements for the statement.  Provides that the designation of a
successor resident agent takes effect on the date in which the statement is
filed with the court. 

Sec. 221B.  RESIGNATION OF RESIDENT AGENT.  Authorizes a resident agent of
a personal representative to resign as the resident agent by giving notice
to the personal representative and filing a statement entitled "Resignation
of Resident Agent" with the court. Sets forth required contents of the
statement.  Sets forth individuals to whom the resident agent is required
to send, via certified mail, return receipt requested, a copy of a
resignation statement.  Provides that the resignation of a resident agent
takes effect on the date in which the court enters an order accepting the
agent's resignation.  Prohibits a court from entering an order accepting
the agent's resignation unless the agent complies with the requirements of
this section. 
  
SECTION 2.  Makes application of this Act prospective.

SECTION 3.  Effective date: September 1, 1999.

SECTION 4.  Emergency clause.