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A BILL TO BE ENTITLED
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AN ACT
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relating to unclaimed property of a person in this state that is |
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held in another state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter D, Chapter 74, Property Code, is |
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amended by adding Section 74.3062 to read as follows: |
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Sec. 74.3062. UNCLAIMED PROPERTY HELD IN ANOTHER STATE. |
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(a) The comptroller may take any necessary actions to have |
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unclaimed property delivered to the comptroller to be held in the |
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custody of this state as provided by this chapter if the property: |
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(1) is reportable under this chapter; and |
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(2) is in the custody or possession of another state or |
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a person residing in another state. |
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(b) The comptroller shall pay a fee of 15 percent of the |
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value of property recovered by the comptroller under this section |
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to a person who gives the comptroller the information necessary to |
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recover the property. |
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(c) The comptroller may enter into a written agreement with |
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a person regarding the provision of information or payment of a fee |
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as described by Subsection (b). The agreement may not provide for a |
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fee that exceeds the amount authorized by Subsection (b). An |
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agreement is not required for a person to receive a fee under |
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Subsection (b). |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2013. |