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## RNES GENERAL EXAS

Honorable Jesse James State Treasurer Capitol Building Austin, Texas Opinion No. (M-406) Re: Whether the State Treasurer is required to publish the information required in Section 5, Article 4.08, Texas Insurance Code, under the Dear Mr. James: stated circumstances.

Your request for an opinion involves Section 5ofArticle 4. 08, Texas Insurance Code, which requires that the State Treasurer on or before the first day ofSeptember following the receiving ofthe reports required under Section 4 of said Article, shall cause tobe published notices based onthe information contained in such reports. The State Treasurer is requested to
‘cause all items in such reports that are inthe sum of $50. 00 or more to be published. Subsection (c) of Section 5reads, inpart, as follows: “It shall not be obligatory upon the State Treasurer to publish any item ofless than Fifty Dollars ($50) in such notice, unless the State Treasurer deems such publication tobe inthe public interest. ‘I

Your question asks whether the State Treasurer is required to publish the information required inSection 5, Article 4.08, Texas Insurance Code, under the following circumstances:

“An out of state insurance company has tendered reports required under the provisions ofArticle 4. 08, Texas Insurance Code, for the years 1965 through 1968, including in such reports many items over $50. 00 each. In each instance the subject company has declined to forward any remittance, claiming Statutes of Limitations as the reason for non-payment. The current years’ report has been received reporting atotal amount in excess of $24,000. 00, including a great many items over $50. 00. ”



## -2008-Honorable Jesse James, page 2(M-406)

Article 4. 08, Section 5, is as follows:

“On or before the first day ofSeptember following the making of such reports under Section 4, the State Treasurer shall cause tobe published notices based onthe information contained in such reports and entitled: “NOTICE OF CERTAIN UNCLAIMED FUNDS HELD AND OWING BY LIFE INSURANCE COMPANIES. ” Such a notice shall be published once ina newspaper published or having a general circulation in each county ofthis state inwhich is located the last known address ofa person appearing tobe entitled to such funds. ” The above quoted Section 5does not permit any discretion onthe part ofthe State Treasurer with regard tothe publication ofthe information required in Section 4 ofArticle 4.08. Said Section 5makes it mandatory upon the State Treasurer to publish notices based upon the information contained inthe reports required by Section 4. Therefore, it is the opinion ofthis office that the State Treasurer must comply with the publication requirements ofSection 5, Article 4. 08 under the circumstances outlined. SUMMARY When an insurance company complies with Article 4. 08, Section 4, Texas Insurance Code, the State Treasurer is obligated to publish the notice required by Section 5of 4.08, even though atthe time offiling said reports the insurance company denies liability for the funds set out inthe report onthe basis that any claim against the funds are barred by the statute oflimitations.

C. MARTIN General of Texas

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## 2009

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Honorable Jesse’James, page 3(M-406) Prepared by Sam Kelley Assistant Attorney General APPROVED: OPINION COMMITTEE Kerns Taylor, Chairman George Kelton, Vice-Chairman Fielding Early Camm Lary Alan Minter Roy Mauer W. V. Geppert Staff Legal Assistant Hawthorne Phillips Executive Assistant

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