Section 1161.051 - Procedure in General(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) invest estate assets according to Section 1161.003; or(2) file a written application with the court for an order:(A) authorizing the guardian to:(i) develop and implement an investment plan for estate assets;(ii) invest in or sell securities under an investment plan developed under Subparagraph (i);(iii) declare that one or more estate assets must be retained, despite being underproductive with respect to income or overall return; or(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(B) modifying or eliminating the guardian's duty to invest the estate.(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, Sec. 1.02, eff. 1/1/2014.