Bill Text: TX SB1420 | 2019-2020 | 86th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to recovery of the funds of an estate delivered to the comptroller.

Spectrum: Bipartisan Bill

Status: (Passed) 2019-05-28 - Effective on 9/1/19 [SB1420 Detail]

Download: Texas-2019-SB1420-Comm_Sub.html
 
 
  By: Zaffirini  S.B. No. 1420
         (In the Senate - Filed March 1, 2019; March 14, 2019, read
  first time and referred to Committee on State Affairs;
  April 8, 2019, reported favorably by the following vote:  Yeas 9,
  Nays 0; April 8, 2019, sent to printer.)
Click here to see the committee vote
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to recovery of the funds of an estate delivered to the
  comptroller.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 551.003(b), Estates Code, is amended to
  read as follows:
         (b)  Recovery of [An action to recover] the proceeds of a
  sale under this section is governed by Subchapter B.
         SECTION 2.  Section 551.051, Estates Code, is amended to
  read as follows:
         Sec. 551.051.  RECOVERY OF FUNDS. If funds of an estate have
  been paid to the comptroller under this chapter, an heir or devisee
  or an assignee of an heir or devisee may recover the share of the
  funds to which the heir, devisee, or assignee is entitled by filing
  a claim with the comptroller in the manner provided by Chapter 74,
  Property Code, for property delivered to the comptroller under that
  chapter.
         SECTION 3.  Section 74.501(e), Property Code, is amended to
  read as follows:
         (e)  Except as provided by Subsection (f) or Section 551.051,
  Estates Code, the comptroller may not pay to the following persons a
  claim to which this section applies:
               (1)  a creditor, a judgment creditor, a lienholder, or
  an assignee of the reported owner or of the owner's heirs; or
               (2)  a person holding a power of attorney from the
  reported owner or the owner's heirs.
         SECTION 4.  Sections 551.052, 551.053, 551.054, and 551.055,
  Estates Code, are repealed.
         SECTION 5.  This Act takes effect September 1, 2019.
 
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