Sec. 74.7021. LIMITATION PERIOD FOR EXAMINATION. (a) The comptroller or attorney general may not begin an examination relating to the reporting, payment, or delivery of property under this chapter after the seventh anniversary of the date a person filed a property report under this title.
(b) The limitation provided by this section does not apply if:
(1) the person has filed a false or fraudulent property report with the intent to avoid delivery of property as required by this title;
(2) a property report for a period has not been filed; or
(3) a court grants a petition to compel the person to submit to an examination under this chapter, deliver property, or file a property report.
(c) For purposes of Subsection (b)(1), a person is presumed to have acted with intent to avoid delivery of property as required by this title if, after correction of a report, the amount of property to be delivered under this title exceeds the amount initially reported by at least 25 percent.
Added by Acts 2019, 86th Leg., R.S., Ch. 897 (H.B. 3598), Sec. 9, eff. June 10, 2019.
Structure Texas Statutes
Chapter 74 - Report, Delivery, and Claims Process
Section 74.702. Examination of Records
Section 74.7021. Limitation Period for Examination
Section 74.703. Additional Personnel
Section 74.704. Assistance in Enforcement
Section 74.707. Waiver or Abatement of Penalty or Interest
Section 74.708. Property Held in Trust
Section 74.709. Suit to Compel Delivery of Property and Civil Penalties
Section 74.710. Criminal Offense
Section 74.711. Authority to Take Testimony and Issue Administrative Subpoenas