Texas Business Organizations Code - Section 11.355. Notice Of Escheat; Escheat
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§ 11.355. NOTICE OF ESCHEAT; ESCHEAT. (a) If no claimant
has made satisfactory proof of a right to the money within the
period prescribed by Section 11.354(a), the comptroller shall
publish in one issue of a newspaper of general circulation in Travis
County a notice of the proposed escheat of the money.
(b) A notice published under Subsection (a) must contain:
(1) the name and last known address of any known
creditor or owner entitled to the money;
(2) the amount of money deposited with the
comptroller; and
(3) the name of the terminated filing entity from
whose assets the money was derived.
(c) If no claimant makes satisfactory proof to the
comptroller of a right to the money before the 61st day after the
date notice under this section is published, the money
automatically escheats to and becomes the property of the state and
shall be deposited in the general revenue fund.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 11.313 11.314 11.315 11.351 11.352 11.353 11.354 11.355 11.356 11.357 11.358 11.359 11.401 11.402 11.403
Last modified: August 11, 2007
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