H.B. No. 2964
AN ACT
relating to designation of a representative for notice regarding
abandonment of shares of a mutual fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 72.1021, Property Code, is amended by
adding Subsection (a-1) to read as follows:
(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).
SECTION 2. This Act takes effect September 1, 2017.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2964 was passed by the House on April
19, 2017, by the following vote: Yeas 148, Nays 0, 1 present, not
voting; and that the House concurred in Senate amendments to H.B.
No. 2964 on May 19, 2017, by the following vote: Yeas 142, Nays 0,
1 present, not voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2964 was passed by the Senate, with
amendments, on May 16, 2017, by the following vote: Yeas 30, Nays
0.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor