Texas Code of Criminal Procedure - Article 59.12. Seizure Of Accounts And Assets At Regulated Financial Institution

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Art. 59.12. SEIZURE OF ACCOUNTS AND ASSETS AT REGULATED 
FINANCIAL INSTITUTION.  (a) This article applies to property 
consisting of a depository account or assets in a regulated 
financial institution.
	(b)  A regulated financial institution, at the time a seizure 
warrant issued under Chapter 18 is served on the institution, may 
either:
	(1)  pay an account or tender assets held as security for an 
obligation owed to the institution at the time of the service of the 
seizure warrant;  or
	(2)  transfer the depository account or assets to a 
segregated interest-bearing account in the name of the attorney 
representing the state as trustee, to remain in the account until 
the time has expired for an appeal from a decision of the court 
relating to the forfeiture of accounts or assets under Article 
59.05.
	(c)  Immediately on service of the seizure warrant, the 
regulated financial institution shall take action as necessary to 
segregate the account or assets and shall provide evidence, 
certified by an officer of the institution, of the terms and amount 
of the account or a detailed inventory of the assets to the peace 
officer serving the warrant.  Except as otherwise provided by this 
article, a transaction involving an account or assets, other than 
the deposit or reinvestment of interest, dividends, or other 
normally recurring payments on the account or assets that do not 
involve distribution of proceeds to the owner, is not authorized 
unless approved by the court that issued the seizure warrant or, if 
a forfeiture action has been instituted, the court in which that 
action is pending.
	(d)  Any accrual to the value of the account or assets during 
the pendency of the forfeiture proceedings is subject to the 
procedures for the disbursement of interest under Article 59.08.
	(e)  If the regulated financial institution fails to release 
the depository account or assets to a peace officer pursuant to a 
seizure warrant or transfer the account or assets as required by 
Subsection (b), and as a result cannot comply with the court's 
forfeiture order, the court:
	(1)  shall order the regulated financial institution and its 
culpable officers, agents, or employees to pay actual damages, 
attorney's fees, and court costs incurred as a result of the 
institution's failure to comply;  and
	(2)  may find the regulated financial institution and its 
culpable officers, agents, or employees in contempt.
	(f)  A regulated financial institution that complies with 
this article is not liable in damages because of the compliance.
	(g)  This article does not:                                                    
	(1)  impair the right of the state to obtain possession of 
physical evidence or to seize a depository account or other assets 
for purposes other than forfeiture under this chapter;  or
	(2)  waive criminal or civil remedies available under other 
law.             

Added by Acts 2001, 77th Leg., ch. 438, Sec. 5, eff. Sept. 1, 2001.           

Last modified: August 10, 2007