Texas Property Code

§ 76.602 — USE OF FUND

PR § 76.602Title 6. UNCLAIMED PROPERTY · Ch. 76. REPORT, DELIVERY, AND CLAIMS PROCESS FOR CERTAIN PROPERTY · Art. G. UNCLAIMED MONEY FUND

Statute text

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(a)The treasurer of the holder shall use the unclaimed money fund to pay the claims of persons establishing ownership of property in the possession of the treasurer of the holder under this chapter or under any other unclaimed property or escheat statute.

(b)Each fiscal year after deducting funds sufficient to pay anticipated expenses and claims of the unclaimed money fund, the treasurer of the holder shall transfer the remainder to the general fund of the holder.

(c)The treasurer of the holder and the attorney for the holder may use the unclaimed money fund generally for the enforcement and administration of this chapter, including the expenses of forms, notices, examinations, travel, court costs, supplies, equipment, and employment of necessary personnel and other necessary expenses.

Legislative history

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