11.352 – DEPOSIT WITH COMPTROLLER OF AMOUNT DUE OWNERS AND
Texas Business Organizations Code § 11.352
Summary
This law requires that when a domestic filing entity is terminated, any assets owed to unknown or unlocatable creditors or owners must be converted to cash and deposited with the comptroller. This ensures that the funds are held securely until the rightful owners can be identified. It affects entities undergoing liquidation and their creditors or owners who cannot be found.
Applies to domestic filing entities during termination.
Assets for unknown creditors must be converted to cash.
Funds are deposited with the comptroller for safekeeping.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's DEPOSIT WITH COMPTROLLER OF AMOUNT DUE OWNERS AND law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.