Texas Agriculture Code - Section 14.063. Termination Of Storage
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§ 14.063. TERMINATION OF STORAGE. (a) A warehouse
operator desiring to terminate the storage of grain in the
warehouse operator's warehouse, including grain that is abandoned
or is unclaimed prior to the sale of a warehouse, shall do so in
accordance with Sections 7.206 and 7.210, Business & Commerce Code,
except that the warehouse operator is not required to hold the
balance of the proceeds of a sale, but may transfer the balance to
the comptroller, who shall treat the money in the same manner as an
escheated bank account.
(b) A purchaser in good faith of grain sold under Section
7.210, Business & Commerce Code, takes the grain free of any rights
of the holder of the receipt, but the receipt is evidence of
entitlement to the escheated funds deposited with the comptroller
under Subsection (a).
Acts 1981, 67th Leg., p. 1053, ch. 388, § 1, eff. Sept. 1, 1981.
Amended by Acts 1997, 75th Leg., ch. 1423, § 2.01, eff. Sept. 1,
1997. Renumbered from V.T.C.A., Agriculture Code § 14.023 and
amended by Acts 2001, 77th Leg., ch. 1124, § 1, eff. Sept. 1,
2001.
Section: 14.055 14.056 14.057 14.058 14.059 14.061 14.062 14.063 14.064 14.065 14.066 14.071 14.072 14.073 14.074
Last modified: August 10, 2007
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