Sec. 72.1017. UTILITY DEPOSITS. (a) In this section:
(1) "Utility" has the meaning assigned by Section 183.001, Utilities Code.
(2) "Utility deposit" is a refundable money deposit a utility requires a user of the utility service to pay as a condition of initiating the service.
(b) Notwithstanding Section 73.102, a utility deposit is presumed abandoned on the latest of:
(1) the first anniversary of the date a refund check for the utility deposit was payable to the owner of the deposit;
(2) the first anniversary of the date the utility last received documented communication from the owner of the utility deposit; or
(3) the first anniversary of the date the utility issued a refund check for the deposit payable to the owner of the deposit if, according to the knowledge and records of the utility or payor of the check, during that period, a claim to the check has not been asserted or an act of ownership by the payee has not been exercised.
(c) A utility deposit is not presumed abandoned for two years from the time the depositor provides documentation to the utility of being called to active military service in any branch of the United States armed forces during any part of the period described by Subsection (b).
Added by Acts 2011, 82nd Leg., R.S., Ch. 685 (H.B. 257), Sec. 2, eff. September 1, 2011.
Amended by:
Acts 2011, 82nd Leg., 1st C.S., Ch. 4 (S.B. 1), Sec. 5.01, eff. September 28, 2011.
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