Texas Property Code

§ 74.309 — PRIVATE ESCHEAT AGREEMENTS PROHIBITED

PR § 74.309Title 6. UNCLAIMED PROPERTY · Ch. 74. REPORT, DELIVERY, AND CLAIMS PROCESS · Art. D. DELIVERY

Statute text

An individual, corporation, business association, or other organization may not act through amendment of articles of incorporation, amendment of bylaws, private agreement, or any other means to take or divert funds or personal property into income, divide funds or personal property among locatable patrons or stockholders, or divert funds or personal property by any other method for the purpose of circumventing the unclaimed property process.

Legislative history

Added by Acts 1987, 70th Leg., ch. 426, Sec. 5, eff. Sept. 1, 1987.