Tex. Prop. Code § 72.1021 · Subchapter B. PRESUMPTION OF ABANDONMENT
SHARES OF MUTUAL FUND; DESIGNATION OF REPRESENTATIVE FOR NOTICE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The owner of shares of a mutual fund may designate the name and a mailing or e-mail address of a representative of the owner only for the purpose of receiving the notice required by Section 74.1011. The owner is not required to designate a representative under this subsection.
(a-1) A holder of shares of a mutual fund shall notify the owner of the shares when the owner makes the initial purchase of shares in the fund that the owner may designate a representative under Subsection (a).
(b) The comptroller shall prescribe a form that a holder of shares of a mutual fund may make available to an owner of the shares 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 mutual fund shares and may not access the shares.
(d) The running of the three-year period of abandonment under Section 72.101 ceases immediately if a representative designated under this section communicates to the holder that the representative knows:
(1) the owner's location; and
(2) that the owner exists and has not abandoned the shares of the mutual fund.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 925 (H.B. 1454), Sec. 1, eff. September 1, 2017.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 170 (H.B. 2964), Sec. 1, eff. September 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/PR/htm/PR.72.htm
- Text hash
- sha256 2d23bf0cd82ecc2718669a3b88c791673749fc9e9a3449c64c3c88086fa978c8
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 3 provisions
Provisions in this library whose text cites Tex. Prop. Code § 72.1021. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.