NRS 120A.725 – Payment or delivery of property without claim.
If the Administrator reasonably believes a person is the apparent owner of property after reviewing and confirming the accuracy of evidence of the identity of the person, the Administrator may initiate and facilitate the payment or delivery of the property to the person pursuant to this chapter without the person filing a claim. (Added to […]
NRS 120A.730 – Interest and penalties.
1. A holder who fails to report, pay or deliver property within the time prescribed by this chapter shall pay to the Administrator interest at the rate of 18 percent per annum on the property or value thereof from the date the property should have been reported, paid or delivered. 2. Except as otherwise provided […]
NRS 120A.610 – Public sale, destruction, disposition or transfer of abandoned property; State Education Fund.
1. Except as otherwise provided in subsections 4 to 8, inclusive, all abandoned property other than money delivered to the Administrator under this chapter must, within 2 years after the delivery, be sold by the Administrator to the highest bidder at public sale in whatever manner affords, in his or her judgment, the most favorable […]
NRS 120A.620 – Abandoned Property Trust Account. [Effective through June 30, 2022.] Abandoned Property Trust Account. [Effective July 1, 2022.]
1. There is hereby created in the State General Fund the Abandoned Property Trust Account. 2. All money received by the Administrator under this chapter, including the proceeds from the sale of abandoned property, must be deposited by the Administrator in the State General Fund for credit to the Account. 3. Before making a deposit, […]
NRS 120A.630 – Claim of another state to recover property.
1. After property has been paid or delivered to the Administrator under this chapter, another state may recover the property if: (a) The property was paid or delivered to the custody of this State because the records of the holder did not reflect a last known location of the apparent owner within the borders of […]
NRS 120A.640 – Filing claim with Administrator; handling of claims by Administrator; confidentiality.
1. A person, excluding another state, claiming property paid or delivered to the Administrator may file a claim on a form prescribed by the Administrator and verified by the claimant. 2. Within 90 days after a claim is filed, the Administrator shall allow or deny the claim and give written notice of the decision to […]
NRS 120A.645 – Donation to State for educational purposes.
1. A person with a claim to property paid or delivered to the Administrator that is less than $500 may, if the claim is allowed by the Administrator pursuant to NRS 120A.640, donate the money or the net proceeds from the sale of the property, together with any dividend, interest or other increment to which […]
NRS 120A.650 – Action to establish claim.
A person aggrieved by a decision of the Administrator or whose claim has not been acted upon within 90 days after its filing may maintain an original action to establish the claim in the district court, naming the Administrator as a defendant. If the aggrieved person establishes the claim in an action against the Administrator, […]
NRS 120A.660 – Election to take payment or delivery.
1. The Administrator may decline to receive property reported under this chapter which the Administrator considers to have a value less than the expenses of notice and sale. 2. A holder, with the written consent of the Administrator and upon conditions and terms prescribed by the Administrator, may report and deliver property before the property […]
NRS 120A.670 – Destruction or disposition of property having no substantial commercial value; immunity from liability.
If the Administrator determines after investigation that property delivered under this chapter has no substantial commercial value, the Administrator may destroy or otherwise dispose of the property at any time. An action or proceeding may not be maintained against the State or any officer or employee or against the holder for or on account of […]