X hits on this document

PDF document

Article 13 – Unclaimed Property Act - page 20 / 35

120 views

0 shares

0 downloads

0 comments

20 / 35

Article 13 – Unclaimed Property Act

(2) The electronic, alphabetical list of the names of owners of unclaimed property maintained pursuant to subsection (1) of this section shall include the following information:

  • (a)

    (Deleted by amendment, L. 2004, p. 1148, § 1, effective August 4, 2004.)

  • (b)

    A statement that information concerning the property may be obtained by any person

possessing an interest in the property by addressing an inquiry to the administrator; and

(c) (I) A statement that any person claiming an interest in the property must file a proof of claim with the administrator pursuant to section 38-13-117.

  • (II)

    (Deleted by amendment, L. 95, p. 524, § 4, effective May 16, 1995.)

    • (3)

      (Deleted by amendment, L. 2004, p. 1148, § 1, effective August 4, 2004.)

    • (4)

      Not later than March 1 of the year immediately following the report required by section 38-

13-110 or, in the case of property reported by life insurance companies, not later than September 1 of the year of the report required by section 38-13-110, the administrator shall mail a notice to each person whose last-known address is listed in the report and who appears to be entitled to property of the value of fifty dollars or more presumed abandoned under this article and any beneficiary of a life or endowment insurance policy or annuity contract for whom the administrator has a last-known address.

  • (5)

    The mailed notice must contain:

    • (a)

      A statement that property is being held to which the addressee appears entitled; and

    • (b)

      A statement that any person claiming an interest in property being held must file a proof of

claim with the administrator pursuant to section 38-13-117.

(6) This section is not applicable to sums payable on money orders and other written instruments presumed abandoned under section 38-13-105.

(7) The administrator shall limit the amount of moneys expended for publication and necessary correspondence pursuant to this section to not more than two percent of the previous year's paid claims from the unclaimed property trust fund created in section 38-13-116.5.

Source: L. 87: Entire article added, p. 1323, § 1 effective July 1. L. 90: (1), (2)(c), and (4) amended, p. 1635, § 7, effective April 27. L. 92: (1), (2)(c), and (4) amended, p. 2111, § 7, effective March 4; (2)(b), (2)(c), and (5) amended, p. 2119, § 6, effective July 1. L. 95: (1), (2)(c)(II), and (4) amended, p. 524, § 4, effective May 16. L. 2004:(1), IP(2), (2)(a), and (3) amended and (7) added, p. 1148, § 1, effective August 4; (2)(c)(I) amended, p. 1205, § 82, effective August 4.

Editor's note: Amendments to subsection (2)(c) by House Bill 92-1092 and House Bill 92-1152 were harmonized.

38-13-112. Payment or delivery of abandoned property to the administrator.

(1) (a) Except as otherwise provided in subsection (2) of this section, a person who is required to file a report under section 38-13-110 shall pay or deliver to the administrator all abandoned property required to be reported at the time such report is filed.

December 2005

Page 16

Document info
Document views120
Page views120
Page last viewedFri Dec 09 06:36:49 UTC 2016
Pages35
Paragraphs707
Words16475

Comments