Texas § PR.74.601 - UNCLAIMED MONEY
Full text of Texas The Texas Constitution § PR.74.601 — UNCLAIMED MONEY, with citation guidance and answers to common questions.
§ PR.74.601. UNCLAIMED MONEY
UNCLAIMED MONEY. (a) The comptroller shall maintain a record that documents unclaimed money received under this chapter or any other statute requiring the delivery of unclaimed property to the comptroller. (b) The comptroller shall deposit to the credit of the general revenue fund: (1) all funds, including marketable securities, delivered to the comptroller under this chapter or any other statute requiring the delivery of unclaimed property to the comptroller; (2) all proceeds from the sale of any property, including marketable securities, under this chapter; (3) all funds that have escheated to the state under Chapter 71 , except that funds relating to escheated real property shall be deposited according to Section 71.202 ; and (4) any income derived from investments of the unclaimed money. (c) The comptroller shall keep a separate record and accounting for delivered unclaimed property, other than money, before its sale. (d) Except as provided by Subsection (e), the comptroller shall from time to time invest the amount of unclaimed money in investments approved by law for the investment of state funds. (e) The comptroller may use the proceeds from the sale of securities delivered under this chapter to buy, exchange, invest, or reinvest in marketable securities. When making or selling the investments, the comptroller shall exercise the judgment and care of a prudent person. (f) The comptroller shall keep a separate record and accounting for securities delivered, sold, purchased, or exchanged and the proceeds and earnings from the securities. (g) If an owner does not assert a claim for unclaimed money and the owner is reported to be the state or a state agency, the comptroller may deposit the unclaimed money to the credit of the general revenue fund. The comptroller may establish procedures and adopt rules as necessary to implement this subsection. Added by Acts 1985, 69th Leg., ch. 230, Sec. 17, eff. Sept. 1, 1985. Amended by Acts 1993, 73rd Leg., ch. 36, Sec. 3.11, eff. Sept. 1, 1993; Acts 1997, 75th Leg., ch. 1037, Sec. 32, eff. Sept. 1, 1997; Acts 1997, 75th Leg., ch. 1423, Sec. 16.32, eff. Sept. 1, 1997. Amended by: Acts 2009, 81st Leg., R.S., Ch. 232 (S.B. 1589 ), Sec. 4, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 685 (H.B. 257 ), Sec. 9, eff. September 1, 2011. Acts 2021, 87th Leg., R.S., Ch. 52 (H.B. 1514 ), Sec. 16, eff. May 18, 2021.
Frequently Asked Questions About Texas § PR.74.601
What does The Texas Constitution § PR.74.601 cover?
Section PR.74.601 ("UNCLAIMED MONEY") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § PR.74.601?
A common citation format is "The Texas Constitution § PR.74.601" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § PR.74.601 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.