58-3936. General rules for taking custody of intangible unclaimed property.
58-3936
58-3936. General rules for taking custody ofintangible unclaimed property.Except as otherwise provided in this act or by other statute of this state,property that is presumed abandoned, whether located in this or another state,is subject to the custody of this state if:
(a) The last known address of the apparent owner, as shown on the records ofthe holder, is in this state;
(b) the records of the holder do not reflect the identity of theperson entitled to the property and it is established that thelast known address of the person entitled to the property is inthis state;
(c) the records of the holder do not reflect the last knownaddress of the apparent owner, and it is established that:
(1) The last known address of the person entitled to the property is in thisstate; or
(2) the holder is domiciled in this state or is a state or other governmentor governmental subdivision, agency or instrumentality of this state and hasnot previously paid or delivered the property to the state of the last knownaddress of the apparent owner or other person entitled to the property;
(d) the last known address of the apparent owner, as shown on the records ofthe holder, is in a state that does not provide for the escheat or custodialtaking of the property and the holder is domiciled in this state or is a stateor other government or governmental subdivision, agency or instrumentality ofthis state;
(e) the last known address of the apparent owner, as shown on the records ofthe holder, is in a foreign country and the holder is domiciled in this stateor is a state or other government or governmental subdivision, agency orinstrumentality of this state;
(f) the transaction out of which the property arose occurred in this state,the holder is domiciled in a state that does not provide for the escheat orcustodial taking of the property, and the last known address of the apparentowner or other person entitled to the property is unknown or is in a state thatdoes not provide by law for the escheat or custodial takingof the property; or
(g) the property is a traveler's check or money order purchased in this stateor the issuer of the traveler's check or money order has its principal place ofbusiness in this state and the issuer's records show that the instrument waspurchased in a state that does not provide for the escheat or custodial takingof the property or do not show the state in which the instrument was purchased.
History: L. 1994, ch. 8, § 3;L. 1999, ch. 100, § 3; Jan. 1, 2000.