Tex. Prop. Code § 72.103

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 72.103 - Preservation of Property

Notwithstanding any other provision of this title except a provision of this section or Section 72.1016 relating to a money order or a stored value card, a holder of abandoned property shall preserve the property and may not at any time, by any procedure, including a deduction for service, maintenance, or other charge, transfer or convert to the profits or assets of the holder or otherwise reduce the value of the property. For purposes of this section, value is determined as of the date of the last transaction or contact concerning the property, except that in the case of a money order, value is determined as of the date the property is presumed abandoned under Section 72.102(c). If a holder imposes service, maintenance, or other charges on a money order prior to the time of presumed abandonment, such charges may not exceed the amount of $1 per month for each month the money order remains uncashed prior to the month in which the money order is presumed abandoned.

Tex. Prop. Code § 72.103

Amended By Acts 2011, 82nd Leg., R.S., Ch. 685, Sec. 4, eff. 9/1/2011.
Amended By Acts 2005, 79th Leg., Ch. 81, Sec. 4, eff. 9/1/2005.
Amended By Acts 2001, 77th Leg., ch. 179, Sec. 2, eff. 6/1/2002.
Amended By Acts 1997, 75th Leg., ch. 1037, Sec. 9, eff. 9/1/1997
Amended by Acts 1985, 69th Leg., ch. 230, Sec. 11, eff. 9/1/1985
Acts 1983, 68th Leg., p. 3594, ch. 576, Sec. 1, eff. 1/1/1984.