(a) In this section, "wages" has the meaning assigned by Section 61.001, Labor Code.
(b) An amount of unclaimed wages is presumed abandoned if, for longer than one year:
(1) the existence and location of the person to whom the wages are owed is unknown to the holder of the wages; and
(2) according to the knowledge and records of the holder of the wages, a claim to the wages has not been asserted or an act of ownership of the wages has not been exercised.