(a) This chapter applies only to the holder of property if:
(1) the holder is a:
(A) school district;
(B) municipality;
(C) county; or
(D) junior college that has, in the manner described by Subsection (b), opted to handle property described by Subdivision (2) in accordance with this chapter; and
(2) the property is:
(A) presumed abandoned under Chapter 72 or 75; and
(B) valued at $100 or less.
(b) This chapter applies to a junior college only if the governing board of the junior college takes formal action to opt to handle property described by Subsection (a)(2) in accordance with this chapter.
Official text of the Texas Property Code as published by the Texas Legislative Council.