By King of Uvalde H.B. No. 2427
76R5406 MLS-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to reporting and delivering unclaimed property to the
1-3 comptroller.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 74.102, Property Code, is amended to read
1-6 as follows:
1-7 Sec. 74.102. SIGNED STATEMENT [VERIFICATION]. (a) The
1-8 person preparing a property report shall provide with each copy of
1-9 the report a statement signed [verification made under oath and
1-10 executed] by:
1-11 (1) the individual holding the reported property;
1-12 (2) a partner, if the holder is a partnership;
1-13 (3) an officer, if the holder is an unincorporated
1-14 association or a private corporation; or
1-15 (4) the chief fiscal officer, if the holder is a
1-16 public corporation.
1-17 (b) The statement [verification] must include the following
1-18 sentence:
1-19 "This report contains a full and complete list of all
1-20 property held by the undersigned that, from the knowledge and
1-21 records of the undersigned, is abandoned under the laws of the
1-22 State of Texas."
1-23 (c) The comptroller may adopt rules or policies relating to
1-24 the signature requirement, as the comptroller determines
2-1 appropriate, to maximize the use of future developments in
2-2 electronic filing technology.
2-3 SECTION 2. Section 74.301(c), Property Code, is amended to
2-4 read as follows:
2-5 (c) If the property subject to delivery under Subsection (a)
2-6 is the contents of a safe deposit box, the comptroller may instruct
2-7 a holder to deliver the property on a specified date before [after]
2-8 November 1 [but before June 1] of the following year.
2-9 SECTION 3. Section 74.101(b), Property Code, is repealed.
2-10 SECTION 4. This Act takes effect September 1, 1999.
2-11 SECTION 5. The importance of this legislation and the
2-12 crowded condition of the calendars in both houses create an
2-13 emergency and an imperative public necessity that the
2-14 constitutional rule requiring bills to be read on three several
2-15 days in each house be suspended, and this rule is hereby suspended.