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A BILL TO BE ENTITLED
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AN ACT
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relating to reporting requirements for certain unclaimed property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1109.051(d), Insurance Code, is amended |
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to read as follows: |
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(d) A life insurance company may report individual amounts |
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of less than $25 [$50] in the aggregate without providing the |
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information listed by Subsection (c). |
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SECTION 2. Section 74.101(d), Property Code, is amended to |
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read as follows: |
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(d) Amounts due that individually are less than $25 [$50] |
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may be reported in the aggregate without furnishing any of the |
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information required by Subsection (c). |
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SECTION 3. Section 1109.051(d), Insurance Code, and Section |
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74.101(d), Property Code, as amended by this Act, apply only to a |
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report filed on or after the effective date of this Act. A report |
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filed before the effective date of this Act is governed by the law |
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as it existed immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 4. This Act takes effect September 1, 2015. |