State v. Texas Osage Royalty Pool, Inc.

CADENA, Justice.

Appellant, the State of Texas, filed this action to obtain a declaration that certain shares of stock in Texas Osage Royalty Pool, Inc., appellee, and undistributed dividends declared thereon, have escheated to the State under the provisions of Art. 3272a, Vernon’s Ann.Tex.Stats. The trial court held that the property in question is not subject to escheat, and the State appeals.

Appellee, Texas Osage Royalty Pool, Inc., will be referred to herein as “Osage.”

The following facts are undisputed:

1. Texas Osage Cooperative Royalty Pool, hereinafter called the “trust”, was organized…