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To: bgill

The banks don’t decide how long to keep the money before sending it to the state. The time periods are established by law.

Since you are flying a Texas flag, start with Texas Property Code Section 73.101 . As with anything legal, there are definitions and nuances, so a Texas lawyer who practices banking law should be consulted about any specific legal issues.


15 posted on 01/26/2019 7:05:09 AM PST by PAR35
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To: PAR35; bgill

Since so many banks and S&Ls in Texas have been closed over the last 30 or so years, I’ll add there are specific federal regulations dealing with cases where the FDIC/FSLIC/RTC weren’t able to transfer the liability to an assuming bank. Generally speaking, that money/asset is going to have ended up with the state, as well.


20 posted on 01/26/2019 7:10:43 AM PST by PAR35
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