Tex. Prop. Code Section 72.1021
Shares of Mutual Fund; Designation of Representative for Notice

(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 (Notice by Property Holder Required). 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 (Personal Property Presumed Abandoned) 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.
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: Section 72.1021 — Shares of Mutual Fund; Designation of Representative for Notice, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­72.­htm#72.­1021 (accessed Apr. 20, 2024).

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Accessed:
Apr. 20, 2024

§ 72.1021’s source at texas​.gov