2025 Texas Statutes
Property Code
Title 6 - Unclaimed Property
Chapter 73 - Property Held by Financial Institutions
Subchapter B. Presumption of Abandonment
Section 73.103. Designation of Representative for Notice
Sec. 73.103. DESIGNATION OF REPRESENTATIVE FOR NOTICE. (a) The depositor of an account or the owner of the contents of a safe deposit box may designate the name and a mailing or e-mail address of a representative of the depositor or the owner only for the purpose of receiving the notice required by Section 74.1011. The depositor or owner is not required to designate a representative under this subsection.
(b) The comptroller shall prescribe a form that a holder of an account or the contents of a safe deposit box may make available to a depositor of the account or owner of the contents of the box to designate a representative for notice under this section.
(c) A representative for notice designated under this section does not have any rights to the account or safe deposit box and may not access the account or box.
(d) The running of a period of abandonment under Section 73.101 ceases immediately if a representative designated under this section communicates to the holder that the representative knows:
(1) the depositor's or owner's location; and
(2) that the depositor or owner exists and has not abandoned the account or the contents of a safe deposit box.
Added by Acts 2015, 84th Leg., R.S., Ch. 925 (H.B. 1454), Sec. 2, eff. September 1, 2017.
