Section 72.1021 - Shares of Mutual Fund; Designation of Representative for Notice(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.Tex. Prop. Code § 72.1021
Amended by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 170,Sec. 1, eff. 9/1/2017.Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 925,Sec. 1, eff. 9/1/2017.