58-3966. Interstate agreements and cooperation; joint and reciprocal actions with other states.
58-3966
58-3966. Interstate agreements and cooperation; joint and reciprocalactions with other states.(a) The administrator may enter into agreements with other statestoexchange information needed to enable this or another state to auditor otherwise determine unclaimed property that it or another state maybe entitled to subject to a claim of custody. The administrator byrules and regulations may require the reporting of information needed to enablecompliance with agreements made pursuant to this section and prescribethe form.
(b) To avoid conflicts between the administrator's procedures and theprocedures of administrators in other jurisdictions that enact theuniform unclaimed property act, the administrator, so far as isconsistent with the purposes, policies and provisions of this actbefore adopting, amending or repealing rules and regulations, shall advise andconsultwith administrators in other jurisdictions that enact substantiallythe uniform unclaimed property act and take into consideration therules and regulations of administrators in other jurisdictions that enact theuniformunclaimed property act.
(c) The administrator may join with other states to seek enforcementof this act against any person who is or may be holding propertyreportable under this act.
(d) At the request of another state, the attorney general of thisstate may bring an action in the name of the administrator of theother state in any court of competent jurisdiction to enforce theunclaimed property laws of the other state against a holder in thisstate of property subject to escheat or a claim of abandonment by theother state, if the other state has agreed to pay expenses incurred bythe attorney general in bringing the action.
(e) The administrator may request that the attorney general of anotherstate or any other person bring an action in the name of theadministrator in the other state. This state shall pay all expensesincluding attorney fees in any action under this subsection. Theadministrator may agree to pay the person bringing the actionattorney fees based in whole or in part on a percentage of the valueof any property recovered in the action. Any expenses paid pursuantto this subsection may not be deducted from the amount that is subjectto the claim by the owner under this act.
History: L. 1994, ch. 8, § 33; March 3.