Section 17-313 - Custody and safekeeping of property delivered to Administrator; former holder relieved of liability; reimbursement of former holder for payment to person entitled.
§ 17-313. Custody and safekeeping of property delivered to Administrator; former holder relieved of liability; reimbursement of former holder for payment to person entitled.
On the payment or delivery of any abandoned property under this title to the Administrator, the State shall assume custody and shall be responsible for its safekeeping. Any person who pays or delivers abandoned property to the Administrator under this title is relieved of all liability, to the extent of the value of the property paid or delivered, for any claim which exists or may arise with respect to the property. Any holder who has paid money to the Administrator under this title may make payment to any person who appears to the holder to be entitled to it and, on proof of the payment and proof that the payee was entitled to it, the Administrator immediately shall reimburse the holder for the payment.
[An. Code 1957, art. 95C, § 13; 1975, ch. 49, § 3; 1981, ch. 752; 2005, ch. 25, § 13.]