Sec. 74.103. RETENTION OF RECORDS.
Text of subsection effective until September 01, 2017
(a) A holder required to file a property report under Section 74.101 shall keep a record of:
(1) the name, the social security number, if known, and the last known address of each person who, from the records of the holder of the property, appears to be the owner of the property;
(2) a brief description of the property, including the identification number, if any; and
(3) the balance of each account, if appropriate.
Text of subsection effective on September 01, 2017
(a) A holder required to file a property report under Section 74.101 shall keep a record of:
(1) the name, the social security number, if known, and the last known address of each person who, from the records of the holder of the property, appears to be the owner of the property;
(2) the name and last known mailing or e-mail address of any representative for notice designated under Section 72.1021 or 73.103;
(3) a brief description of the property, including the identification number, if any; and
(4) the balance of each account, if appropriate.
(b) The record must be kept for 10 years from the date on which the property is reportable, regardless of whether the property is reported in the aggregate under Section 74.101.
(c) The comptroller may by rule provide for a shorter period for keeping a record required by this section.
(d) The comptroller may determine the liability of a holder required to file a property report under Section 74.101 using the best information available to the comptroller if the records of the holder are unavailable or incomplete for any portion of the required retention period.
Added by Acts 1985, 69th Leg., ch. 230, Sec. 17, eff. Sept. 1, 1985. Amended by Acts 1997, 75th Leg., ch. 1037, Sec. 19, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1423, Sec. 16.07, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 1310, Sec. 84, eff. Sept. 1, 2003.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 925 (H.B. 1454), Sec. 5, eff. September 1, 2017.
Section: Previous 74.001 74.101 74.1011 74.102 74.103 74.104 74.201 74.202 74.203 74.205 74.301 74.3011 74.3012 74.3013 74.302 NextLast modified: September 28, 2016