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Texas Property Code - Section 74.306. Unclaimed Property Held By Federal Government

Legal Research Home > Texas Laws > Property Code > Texas Property Code - Section 74.306. Unclaimed Property Held By Federal Government

§ 74.306. UNCLAIMED PROPERTY HELD BY FEDERAL 
GOVERNMENT.  (a) If the federal government enacts a law that 
provides for the discovery of unclaimed property held by the 
federal government and that provides or makes that information 
available to the states, the comptroller may pay to the federal 
government from the unclaimed money received under this chapter or 
any other statute requiring the delivery of unclaimed property to 
the comptroller the proportional share of the necessary cost of 
examining records.
	(b)  If the federal government delivers unclaimed property 
to the comptroller, this state shall hold the federal government 
harmless from claims made by owners of the property after the 
delivery.

Added by Acts 1985, 69th Leg., ch. 230, § 17, eff. Sept. 1, 1985.  
Amended by Acts 1997, 75th Leg., ch. 1037, § 25, eff. Sept. 1, 
1997;  Acts 1997, 75th Leg., ch. 1423, § 16.18, eff. Sept. 1, 
1997.

Last modified: August 11, 2007