Proceeds of a home equity loan that is the subject of an application under Section 1352.102 that are attributable to the minor ward's interest may be spent only to:

1. (1) make improvements to the homestead;
2. (2) pay for the ward's education or maintenance expenses; or
3. (3) pay the loan's outstanding balance.

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