Texas Property Code

§ 76.506 — FEE FOR RECOVERY

PR § 76.506Title 6. UNCLAIMED PROPERTY · Ch. 76. REPORT, DELIVERY, AND CLAIMS PROCESS FOR CERTAIN PROPERTY · Art. F. CLAIM FOR DELIVERED PROPERTY

Statute text

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A person who informs a potential claimant that the claimant may be entitled to claim property that is reportable to the treasurer of the holder under this chapter, that has been reported to the treasurer of the holder, or that is in the possession of the treasurer of the holder may not contract for or receive from the claimant for services an amount that exceeds 10 percent of the value of the property recovered. If the property involved is mineral proceeds, the amount for services may not include a portion of the underlying minerals or any production payment, overriding royalty, or similar payment.

Legislative history

Added by Acts 1997, 75th Leg., ch. 1037, Sec. 38, eff. Sept. 1, 1997.