There is a newer version
of
this Section
2021 Texas Statutes
Property Code
Title 6 - Unclaimed Property
Chapter 77 - Report, Delivery, and Claims Process for Unclaimed Restitution Payments
Subchapter G. Enforcement
Section 77.307. Penalty
Universal Citation:
TX Prop § 77.307 (2021)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
Sec. 77.307. PENALTY. A penalty equal to five percent of the value of the unclaimed restitution payment due shall be imposed on a holder who fails to pay or deliver the payment within the time prescribed by this chapter. If a holder fails to pay or deliver an unclaimed restitution payment before the 121st day after the date the payment is due, an additional penalty equal to five percent of the value of the payment due shall be imposed.
Added by Acts 2017, 85th Leg., R.S., Ch. 351 (H.B. 1866), Sec. 4, eff. September 1, 2017.
Disclaimer: These codes may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
