Sec. 73.102. CHECKS. A check is presumed to be abandoned on the latest of:
(1) the third anniversary of the date the check was payable;
(2) the third anniversary of the date the issuer or payor of the check last received documented communication from the payee of the check; or
(3) the third anniversary of the date the check was issued if, according to the knowledge and records of the issuer 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.
Added by Acts 1997, 75th Leg., ch. 1037, Sec. 15, eff. Sept. 1, 1997.
Text of section effective on September 01, 2017
Last modified: September 28, 2016