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A BILL TO BE ENTITLED
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AN ACT
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relating to the presumption of abandonment of an inactive checking |
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or savings account or a matured certificate of deposit. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 73.101(c), Property Code, is amended to |
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read as follows: |
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(c) If the account is a checking or savings account or is a |
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matured certificate of deposit, the account is presumed abandoned |
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if the account has been inactive for at least 15 [three] years as |
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determined under Subsection (b)(1). |
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SECTION 2. This Act takes effect September 1, 2015. |