Texas Codes

Tex. Prop. Code § 74.309 (2026)

Private Escheat Agreements Prohibited

✓ current as of May 2026

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Sec. 74.309. PRIVATE ESCHEAT AGREEMENTS PROHIBITED. 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.

Added by Acts 1987, 70th Leg., ch. 426, Sec. 5, eff. Sept. 1, 1987.

SUBCHAPTER E. DISPOSITION OF DELIVERED PROPERTY

Notes of Decisions

Cited in 3 cases, 1997–2014 · leading case: State v. Snell, 950 S.W.2d 108 (Tex. App. 1997).

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State v. Snell, 950 S.W.2d 108 (Tex. App. 1997). · cites it 2× “The objection stated the Unclaimed Property Provision generally contravened Texas unclaimed property law and also violated the Texas Property Code § 74.309, which prohibits private parties from contracting in an attempt to defeat the statutory unclaimed property provisions.”

State v. Highland Homes, Ltd., 417 S.W.3d 478 (Tex. App. 2012). · cites it 2× “But Texas has adopted a statute specifically providing that the expiration of a period of limitation on the owner’s right to receive or recover property, whether specified by contract, statute, or court order, does not prevent the property from being presumed abandoned or affect…”

Highland Homes Ltd. v. State, 448 S.W.3d 403 (Tex. 2014). “” Tex. Prop.Code § 74.309. Highland and the class representative agreed “to a cy pres distribution of unclaimed funds owed to class members” who, although known, could not be found to cash their settlement checks within 90 days of issuance.”

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