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Texas Supreme Court Rejects State’s Use of Unclaimed Property Law to Usurp Private Right to Contract

In a 5-to-4 decision, the Texas Supreme Count rebuffed the Texas attorney general’s attempt to undo a cy pres award using the state’s Unclaimed Property Act. In a class action suit against contractor Highland Homes, pertaining to the legality of a court-approved settlement allowing uncashed checks to fund the cy press award for the Nature Conservancy, the court explains that unclaimed property laws do not require the owner to “actually collect his property”, merely to “claim it.”.

For full details on the court’s decision click here and here.


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