(a) If a contractor is appointed as permanent guardian of the estate, the contractor must manage the ward's finances and assets according to the order appointing guardian of the estate. This responsibility may include:
  (1) locating and taking possession of the ward's assets;
  (2) securing the ward's property;
  (3) preparing the initial inventory, appraisement, and list of claims;
  (4) paying the ward's bills;
  (5) investing any money not needed for the care and maintenance of the ward;
  (6) ensuring that the ward is receiving all the income and benefits to which the ward is entitled;
  (7) selling the ward's property if it is in the ward's best interests;
  (8) filing annual accountings to courts and to government agencies administering benefits;
  (9) filing tax returns; and
  (10) complying with all requirements of Texas Estates Code, Title 3, regarding guardianship of the estate.
(b) A contractor, its agents, employees or volunteers or their immediate family members or friends must not directly or indirectly purchase property of the ward. A contractor, a contractor's agent, employee, volunteer, or an immediate family member or friend of the contractor, agent, employee, or volunteer may not purchase the ward's property through another person.

Source Note: The provisions of this §361.81 adopted to be effective September 1, 2006, 31 TexReg 6797; amended to be effective February 9, 2015, 40 TexReg 609; transferred effective March 15, 2022, as published in the February 25, 2022 issue of the Texas Register, 47 TexReg 983