TX SB1244

Modifies the presumption of abandonment for unclaimed property to begin on the earlier of when a written or electronic communication is returned undelivered, or when the owner last exercised an act of ownership

Adds virtual currency to Texas unclaimed property laws, defining it by reference to Section 12.001 of the Business & Commerce Code

Requires holders of abandoned virtual currency who have full control of private keys to report and deliver the property in its native form to the comptroller or designated custodian

Exempts holders from reporting virtual currency if they do not have full control of necessary private keys or possess only a partial private key

Authorizes the comptroller to contract with qualified custodians for virtual currency management, hold virtual currency outside the state treasury, and liquidate it with proceeds deposited into the state treasury after deducting reasonable expenses