. 

E 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 5 of Article 

4. 08, Texas Insurance Code, which requires that the State Treasurer on or before the first day of September following the receiving of the reports required under Section 4 of said Article, 

shall cause to be published notices based on the information contained in such reports. The State Treasurer is requested to 

‘cause all items in such reports that are in the sum of $50. 00 or 

more to be published. Subsection (c) of Section 5 reads, in part, 

as follows: “It shall not be obligatory upon the State Treasurer 

to publish any item of less than Fifty Dollars ($50) in such notice, 

unless the State Treasurer deems such publication to be in the 

public interest. ‘I 

Your question asks whether the State Treasurer is required to publish the information required in Section 5, Article 

4.08, Texas Insurance Code, under the following circumstances: 

“An out of state insurance company has tendered reports 

required under the provisions of Article 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 a total 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 of September 

following the making of such reports under Section 

4, the State Treasurer shall cause to be published 

notices based on the 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 in a newspaper published or having 

a general circulation in each county of this state 

in which is located the last known address of a 

person appearing to be entitled to such funds. ” 

The above quoted Section 5 does not permit any discretion 

on the part of the State Treasurer with regard to the publication 

of the information required in Section 4 of Article 4. 08. Said 

Section 5 makes it mandatory upon the State Treasurer to publish 

notices based upon the information contained in the reports required by Section 4. Therefore, it is the opinion of this office 

that the State Treasurer must comply with the publication requirements of Section 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 5 of 4. 08, even though at the time 

of filing said reports the insurance company denies 

liability for the funds set out in the report on the 

basis that any claim against the funds are barred by 

the statute of limitations. 

C. MARTIN 

General of Texas 

- 2009 - 
I . 

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 

- 2010 -