Texas Property Code
§ 74.3013 — DELIVERY OF MONEY FOR RURAL SCHOLARSHIP, ECONOMIC DEVELOPMENT, AND ENERGY EFFICIENCY ASSISTANCE
PR § 74.3013Title 6. UNCLAIMED PROPERTY · Ch. 74. REPORT, DELIVERY, AND CLAIMS PROCESS · Art. D. DELIVERY
Statute text
View on source(a)Notwithstanding and in addition to any other provision of this chapter or other law, a nonprofit cooperative corporation may deliver reported money to a scholarship fund for rural students, to stimulate rural economic development, or to provide energy efficiency assistance to members of electric cooperatives, instead of delivering the money to the comptroller as prescribed in Section 74.301.
(b)A nonprofit cooperative corporation may deliver the money under this section only:
(1)to a scholarship fund established by one or more nonprofit cooperative corporations in this state to enable students from rural areas to attend college, technical school, or other postsecondary educational institution;
(2)to an economic development fund for the stimulation and improvement of business and commercial activity for economic development in rural communities; and
(3)to an energy efficiency assistance fund to assist members of an electric cooperative in reducing their energy consumption and electricity bills.
(c)A nonprofit cooperative corporation shall file with the comptroller a verification of money delivered under this section that complies with Section 74.302.
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Legislative history
Acts 2007, 80th Leg., R.S., Ch. 939 (H.B. 3693), Sec. 14, eff. September 1, 2007. Acts 2007, 80th Leg., R.S., Ch. 939 (H.B. 3693), Sec. 15, eff. September 1, 2007. Acts 2023, 88th Leg., R.S., Ch. 291 (S.B. 1768), Sec. 7, eff. May 29, 2023. Acts 2023, 88th Leg., R.S., Ch. 621 (H.B. 4246), Sec. 1, eff. September 1, 2023.