1. (a) Not later than the 180th day after the date the guardian of the estate qualifies as guardian or another date specified by the court, the guardian shall:

   1. (1) invest estate assets according to Section 1161.003; or

   2. (2) file a written application with the court for an order:

      1. (A) authorizing the guardian to:

         1. (i) develop and implement an investment plan for estate assets;
         2. (ii) invest in or sell securities under an investment plan developed under Subparagraph (i);
         3. (iii) declare that one or more estate assets must be retained, despite being underproductive with respect to income or overall return; or
         4. (iv) loan estate funds, invest in real estate or make other investments, or purchase a life, term, or endowment insurance policy or an annuity contract; or
      2. (B) modifying or eliminating the guardian's duty to invest the estate.
2. (b) The court may approve an investment plan under Subsection (a)(2) without a hearing.

Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759), Sec. 1.02, eff. January 1, 2014.