Texas § 74.708 PROPERTY HELD IN TRUST.

Texas Statutes

§ 74.708 — PROPERTY HELD IN TRUST.

Texas § 74.708

Code PRProperty Code

This text of Texas § 74.708 (PROPERTY HELD IN TRUST.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Property Code Code Ann. § 74.708 (2026).

Text

Sec. 74.708. PROPERTY HELD IN TRUST. A holder who on March 1 holds property presumed abandoned under Chapters 72-75 holds the property in trust for the benefit of the state on behalf of the missing owner and is liable to the state for the full value of the property, plus any accrued interest and penalty. A holder is not required by this section to segregate or establish trust accounts for the property provided the property is timely delivered to the comptroller in accordance with Section 74.301 .

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Sec. 74.708. PROPERTY HELD IN TRUST. A holder who on March 1 holds property presumed abandoned under Chapters 72-75 holds the property in trust for the benefit of the state on behalf of the missing owner and is liable to the state for the full value of the property, plus any accrued interest and penalty. A holder is not required by this section to segregate or establish trust accounts for the property provided the property is timely delivered to the comptroller in accordance with Section 74.301 .

Legislative History

Added by Acts 1997, 75th Leg., ch. 1037, Sec. 36, eff. Sept. 1, 1997. Amended by: Acts 2011, 82nd Leg., R.S., Ch. 685 (H.B. 257 ), Sec. 10, eff. January 1, 2013.