<p>Texas Supreme Court Finds Released Settlement Moneys Not Subject to Unclaimed Property Act</p>

Texas Supreme Court Finds Released Settlement Moneys Not Subject to Unclaimed Property Act

The Texas Supreme Court held that a settlement administrator was permitted to make a cy pres donation of any unclaimed settlement moneys released by class representatives after 90 days under a settlement agreement, finding the administrator is not a holder of abandoned property under the state's unclaimed property law.