Tex. Prop. Code Section 74.3061
Escheat of Funds in the Possession of the United States


(a)

In the event any money is due to a resident of this state in the nature of a refund, rebate, or other overpayment of taxes or fees to the United States with respect to which the resident is likely to have his rights to secure such refund or rebate barred by a statute of limitations, or if for any reason at least three years has elapsed after the date on which the resident could have filed a timely claim for said refund or rebate, the comptroller is appointed agent of such resident to apply for said refund or rebate and is authorized to do any act which a natural person could do to recover said money. When the comptroller files an application or initiates any other proceeding to secure said refund or rebate, the comptroller is coupled with an interest in the money sought and money recovered. All property within this provision, including all principal and interest accruing thereon, is declared to have escheated and to have become the property of the state.

(b)

The funds escheated by the state pursuant to this provision shall be given notice as provided by Section 74.201 (Required Notice). Title to any such property shall be transferred by the state to any persons who in accordance with Subchapter F can show that the property belonged to them immediately prior to the escheat or that they were heirs to those funds immediately prior to the escheat.
Added by Acts 1997, 75th Leg., ch. 1037, Sec. 25, eff. Sept. 1, 1997.

Source: Section 74.3061 — Escheat of Funds in the Possession of the United States, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­74.­htm#74.­3061 (accessed Mar. 23, 2024).

74.001
Applicability
74.101
Property Report
74.102
Signed Statement
74.103
Retention of Records
74.104
Confidentiality of Property Report
74.105
Combined Reporting
74.106
Continuing Reporting Requirement
74.201
Required Notice
74.203
Authorized Notice
74.205
Charge for Notice
74.206
Advertising and Promotion
74.301
Delivery of Property to Comptroller
74.302
Statement of Delivered Property
74.304
Responsibility After Delivery
74.306
Unclaimed Property Held by Federal Government
74.307
List of Owners
74.308
Period of Limitation Not a Bar
74.309
Private Escheat Agreements Prohibited
74.401
Sale of Property
74.402
Notice of Sale
74.403
Purchaser’s Title
74.404
Sale of Military Awards and Decorations Prohibited
74.405
Disposition of Securities
74.501
Claim Filed with Comptroller
74.502
Claim Filed with Holder
74.503
Waiver of Claim Requirement
74.504
Hearing
74.506
Appeal
74.507
Assistance of Claimant
74.508
Claim of Another State to Recover Property
74.509
Handling Fee for Processing Unclaimed Property
74.601
Unclaimed Money
74.602
Use of Money
74.603
Audit
74.604
Disposition of Money Delivered to Comptroller from Certain Attorney Accounts
74.701
Rules
74.702
Examination of Records
74.703
Additional Personnel
74.704
Assistance in Enforcement
74.705
Interest
74.706
Penalty
74.707
Waiver or Abatement of Penalty or Interest
74.708
Property Held in Trust
74.709
Suit to Compel Delivery of Property and Civil Penalties
74.710
Criminal Offense
74.711
Authority to Take Testimony and Issue Administrative Subpoenas
74.712
Enforcement of Subpoenas
74.1011
Notice by Property Holder Required
74.3011
Delivery of Money to Rural Scholarship Fund
74.3012
Delivery of Money to Urban Scholarship Fund
74.3013
Delivery of Money for Rural Scholarship, Economic Development, and Energy Efficiency Assistance
74.3061
Escheat of Funds in the Possession of the United States
74.7021
Limitation Period for Examination

Accessed:
Mar. 23, 2024

§ 74.3061’s source at texas​.gov