Texas Attorney General Opinion: V-997 Page: 1 of 8
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THE ATToRNEr GENERAL
.OF TEXAS
PRICE DANIEL AussrxN 12. TaAs
ATTORNEY GENERAL
February 4, 1950
Hon. Jesse James Opinion No. V-997.
State Treasurer
Austin, Texas Ret The procedure for handling
funds of unknown stockhold-
ers deposited in the State
Treasury under Senate Bill
402, 51st Legislature, after
dissolution of domniestic cort-
Dear Mr. lames rt porations.
Your request for an opinion is as follows:
'Please note the enclosed file with reference to
a deposit of $2,749.75, which we have just made to our
Suspease Fund # 31 - Dissolution of Solvent Corpora-
tions.
"Heretofore deposits of this kind have been made
as above to our Saspense Account where it remains for
a period of seven years, after which it is escheated and
transferred to General Revenue.
"However, a new law was enacted by the 51st Leg-
islature, Regular Session - see Chapter 576.
"This deposit was made by Baker, Botts, Andrews
and Parish of Houston for the W-K-M Company of that
city with request that it be handled under the new law.
"Under the new law it would be escheated imme-
diately. The new law also requires that the state adver-
tise the amounts and owners of the money being held by
the state.
"If this money is immediately escheated and de-
posited in Generat Revenue, it would require court ac-
tion on the part of owners in order to get their money
from the state. Heretofore all that has been necessary
was for owners to furnishproof of ownership.
"Pending your reply this money has been placed
in Suspense. We should like very much to have you an-
swer the following questions:
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Texas. Attorney-General's Office. Texas Attorney General Opinion: V-997, text, February 4, 1950; (https://texashistory.unt.edu/ark:/67531/metapth265816/m1/1/: accessed July 4, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.