All intangible property held for the owner by any state or federal court, government, governmental subdivision or agency, public corporation, or public authority which remains unclaimed by the owner for more than five years after becoming payable or distributable is presumed abandoned.
History. Code 1981, § 44-12-204 , enacted by Ga. L. 1990, p. 1506, § 1; Ga. L. 1992, p. 1237, § 10.
Cross references.
Escheat of property to state generally, O.C.G.A. § 53-2-50 et seq.