Tex. Finance Code § 96.311
This is the official text of Tex. Finance Code § 96.311, part of Texas’s Finance Code — regulates banks and other financial institutions.
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§ 96.311. PAYMENT OF NONCLAIMING DEPOSIT ACCOUNT HOLDERS AND CREDITORS.
Official statutory text
(a) Except as provided by Subsection (b), the liquidating agent, on demand, shall pay a deposit account holder or creditor of the savings bank who does not make a claim under Section 96.305 any amount held by the liquidating agent for the benefit of the deposit account holder or creditor.
(b) If the liquidating agent has a doubt about the identity of a claimant or the claimant's right to the money, the liquidating agent shall reject the claim and notify the claimant by registered mail.
(c) The liquidating agent's rejection of a claim becomes final if the claimant does not file suit against the liquidating agent to recover money in a district court of Travis County within three months after the date on which the notice is mailed.
(d) A suit under Subsection (c) is an action in rem. Judgment is binding on all persons interested in the money.
(b) If the liquidating agent has a doubt about the identity of a claimant or the claimant's right to the money, the liquidating agent shall reject the claim and notify the claimant by registered mail.
(c) The liquidating agent's rejection of a claim becomes final if the claimant does not file suit against the liquidating agent to recover money in a district court of Travis County within three months after the date on which the notice is mailed.
(d) A suit under Subsection (c) is an action in rem. Judgment is binding on all persons interested in the money.
Status: in_force · Read it on the official government site
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