Tex. Prop. Code § 142.008 · Chapter 142. MANAGEMENT OF PROPERTY RECOVERED IN SUIT BY A NEXT FRIEND OR GUARDIAN AD LITEM
STRUCTURED SETTLEMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In a suit in which a minor or incapacitated person who has no legal guardian is represented by a next friend or an appointed guardian ad litem, the court, on a motion from the parties, may provide for a structured settlement that:
(1) provides for periodic payments; and
(2) is funded by:
(A) an obligation guaranteed by the United States government; or
(B) an annuity contract that meets the requirements of Section 142.009.
(b) The person obligated to fund a structured settlement shall provide to the court:
(1) a copy of the instrument that provides funding for the structured settlement; or
(2) an affidavit from an independent financial consultant that specifies the present value of the structured settlement and the method by which the value is calculated.
(c) A structured settlement provided for under this section is solely for the benefit of the beneficiary of the structured settlement and is not subject to the interest payment calculations contained in Section 117.054, Local Government Code.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 195, Sec. 5, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.142.htm
- Text hash
- sha256 39d95b4baf510e85230b4065fcd5a5a1b7a7010ac7939608ecc1617c5754ddf4
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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