9-8-805 - Collecting institutions -- Perfecting title -- Notice.
9-8-805. Collecting institutions -- Perfecting title -- Notice.
(1) (a) Any collecting institution wishing to perfect title in any reposited materials heldby it shall send, by registered mail, a notice containing the information required by this section tothe last-known address of the last-known owner of the property.
(b) The collecting institution shall publish a notice containing the information requiredby this section:
(i) if:
(A) the owner or the address of the owner of the reposited materials is unknown;
(B) the mailed notice is returned to the collecting institution without a forwardingaddress; or
(C) the owner does not claim the reposited materials within 90 days after the notice wasmailed; and
(ii) (A) by publication at least once per week for two consecutive weeks in a newspaperof general circulation in the county where the collection institution is located; and
(B) by publication in accordance with Section 45-1-101 for two weeks.
(2) The notices required by this section shall include:
(a) the name, if known, and the last-known address, if any, of the last-known owner ofthe reposited materials;
(b) a description of the reposited materials;
(c) the name of the collecting institution that has possession of the reposited materialsand a person within that institution whom the owner may contact; and
(d) a statement that if the reposited materials are not claimed within 90 days from thedate that the notice is published in accordance with Subsection (1)(b), the reposited materials areconsidered to be abandoned and become the property of the collecting institution.
(3) If no one has claimed the reposited materials within 90 days after the date that thenotice is published in accordance with Subsection (1)(b), the reposited materials are consideredto be abandoned and are the property of the collecting institution.
Amended by Chapter 388, 2009 General Session