Texas Property Code 74.306 – Unclaimed Property Held by Federal Government
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(a) If the federal government enacts a law that provides for the discovery of unclaimed property held by the federal government and that provides or makes that information available to the states, the comptroller may pay to the federal government from the unclaimed money received under this chapter or any other statute requiring the delivery of unclaimed property to the comptroller the proportional share of the necessary cost of examining records.
(b) If the federal government delivers unclaimed property to the comptroller, this state shall hold the federal government harmless from claims made by owners of the property after the delivery.
Terms Used In Texas Property Code 74.306
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Property: means real and personal property. See Texas Government Code 311.005
- Statute: A law passed by a legislature.