Texas Property Code

§ 74.405 — DISPOSITION OF SECURITIES

PR § 74.405Title 6. UNCLAIMED PROPERTY · Ch. 74. REPORT, DELIVERY, AND CLAIMS PROCESS · Art. E. DISPOSITION OF DELIVERED PROPERTY

Statute text

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(a)The comptroller may sell or otherwise liquidate a security delivered to the comptroller under this chapter.

(b)The comptroller may not sell a security listed on an established stock exchange for less than the price prevailing on the exchange at the time of sale. The comptroller may sell a security not listed on an established exchange by any commercially reasonable method.

Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 52 (H.B. 1514), Sec. 9, eff. May 18, 2021.