Texas Property Code 74.7021 – Limitation Period for Examination
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(a) The comptroller or attorney general may not begin an examination relating to the reporting, payment, or delivery of property under this chapter after the seventh anniversary of the date a person filed a property report under this title.
(b) The limitation provided by this section does not apply if:
(1) the person has filed a false or fraudulent property report with the intent to avoid delivery of property as required by this title;
(2) a property report for a period has not been filed; or
(3) a court grants a petition to compel the person to submit to an examination under this chapter, deliver property, or file a property report.
Terms Used In Texas Property Code 74.7021
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
(c) For purposes of Subsection (b)(1), a person is presumed to have acted with intent to avoid delivery of property as required by this title if, after correction of a report, the amount of property to be delivered under this title exceeds the amount initially reported by at least 25 percent.