An individual, corporation, business association, or other organization may not act through amendment of articles of incorporation, amendment of bylaws, private agreement, or any other means to take or divert funds or personal property into income, divide funds or personal property among locatable patrons or stockholders, or divert funds or personal property by any other method for the purpose of circumventing the unclaimed property process.
Tex. Prop. Code § 74.309
PRIVATE ESCHEAT AGREEMENTS PROHIBITED
Applied in 3 court decisions — leading case State v. Snell (1997)
Most recently applied in Highland Homes Ltd. v. State (August 2014)
Added by Acts 1987, 70th Leg., ch. 426, Sec. 5, eff
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.