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Texas Statutes (Last Updated: January 4, 2014) |
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INSURANCE CODE |
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Title 7. LIFE INSURANCE AND ANNUITIES |
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Subtitle A. LIFE INSURANCE IN GENERAL |
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Chapter 1109. UNCLAIMED LIFE INSURANCE AND ANNUITY CONTRACT PROCEEDS |
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Subchapter C. PUBLIC NOTICE |
Sec. 1109.101. PUBLIC NOTICE OF UNCLAIMED PROCEEDS
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(a) In the calendar year following the year in which a report required by Section 1109.051 is made and in which the unclaimed proceeds described in the report are delivered to the comptroller under Section 1109.052, the comptroller may publish notice based on the information contained in the report. Except as provided by Subsection (d), the comptroller shall publish the notice once in a newspaper published or having a general circulation in each county of this state in which the last known address of a person appearing to be entitled to any of those proceeds is located.
(b) The notice must:
(1) state in alphabetical order the name of each insured or annuitant under the policies or contracts and the municipality of the insured's or annuitant's last known address, if any; and
(2) state that the unclaimed proceeds have been delivered to the comptroller as of the preceding November 1 and may be claimed from the comptroller.
(c) The publication requirements under Subchapter C, Chapter 74, Property Code, apply to publication of notice under this section.
(d) The comptroller may use a method of publishing notice different from that prescribed by Subsection (a) if the comptroller determines that the different method would be as likely to give actual notice to the person required to be named in the notice as the method prescribed by Subsection (a).