Tex. Property Code § 72.1021
This is the official text of Tex. Property Code § 72.1021, part of Texas’s Property Code — governs real property, landlord-tenant law, and property transactions.
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§ 72.1021. SHARES OF MUTUAL FUND; DESIGNATION OF REPRESENTATIVE FOR NOTICE.
Official statutory text
(a) The owner of shares of a mutual fund may designate the name and a mailing or e-mail address of a representative of the owner only for the purpose of receiving the notice required by Section 74.1011. The owner is not required to designate a representative under this subsection.
(a-1) A holder of shares of a mutual fund shall notify the owner of the shares when the owner makes the initial purchase of shares in the fund that the owner may designate a representative under Subsection (a).
(b) The comptroller shall prescribe a form that a holder of shares of a mutual fund may make available to an owner of the shares to designate a representative for notice under this section.
(c) A representative for notice designated under this section does not have any rights to the mutual fund shares and may not access the shares.
(d) The running of the three-year period of abandonment under Section 72.101 ceases immediately if a representative designated under this section communicates to the holder that the representative knows:
(1) the owner's location; and
(2) that the owner exists and has not abandoned the shares of the mutual fund.
(a-1) A holder of shares of a mutual fund shall notify the owner of the shares when the owner makes the initial purchase of shares in the fund that the owner may designate a representative under Subsection (a).
(b) The comptroller shall prescribe a form that a holder of shares of a mutual fund may make available to an owner of the shares to designate a representative for notice under this section.
(c) A representative for notice designated under this section does not have any rights to the mutual fund shares and may not access the shares.
(d) The running of the three-year period of abandonment under Section 72.101 ceases immediately if a representative designated under this section communicates to the holder that the representative knows:
(1) the owner's location; and
(2) that the owner exists and has not abandoned the shares of the mutual fund.
Status: in_force · Read it on the official government site
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